If you do not pay your taxes in full and on time, the IRS applies penalty and late fees to the amount that you already owe. These penalties are added to your account automatically by a computerized system. Sometimes it is possible to have these fees overturned or refunded by submitting a request for penalty abatement.
In order for a request to be considered, you must have an acceptable reason for falling behind in your taxes, such as a death in the family, a natural disaster, or a long period of unemployment. In addition, you must show the IRS a commitment or plan for repaying your debt.
It is very difficult to prove your eligibility for penalty abatement to the IRS without the help of a tax expert.
At Sheppard Law Offices, Co., L.P.A. we represent individual and business tax clientele throughout Ohio and across the United States who are facing IRS tax liabilities, penalties, and interest problems.
Penalty abatement gives you the opportunity to plead your case to the IRS. Unlike most other claims for debt relief, abatement puts a very human face on your case, which certainly can work for your best interest. Penalty abatement relieves you of some or all of the penalty fees you have incurred, and can be a saving grace for those who can explain adequately their failure to pay taxes.
Read more on Penalty abatement and contact the Tax Law Office of Ken Sheppard.
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