IRS Penalty Abatement
IRS Penalty Abatement
IRS Penalty Abatement – reduce or eliminate costly irs penalties
IRS penalties can quickly add thousands of dollars to your balance, making it nearly impossible to get ahead. Fortunately, many taxpayers qualify for Penalty Abatement — an IRS relief program that reduces or removes penalties under certain circumstances.
At In-Sync Accounting & Consulting, we know how to build a strong case for penalty relief so you can keep more money in your pocket.
WHAT IS PENALTY ABATEMENT?
Penalty Abatement is the IRS’s way of granting relief from added charges when taxpayers have a reasonable cause for noncompliance.
What the IRS Considers:
First-Time Penalty Relief – if you’ve had a good compliance history
Reasonable Cause – illness, natural disaster, or other events beyond your control
Statutory Exceptions – IRS administrative waivers in special situations
If you qualify, you may be able to reduce penalties & interest.
You may qualify if:
You’ve filed and paid on time in prior years
You had circumstances beyond your control You’ve corrected your tax filings and are now in compliance
