Relieve Your IRS Penalty Burden with Penalty Abatement.
IRS Penalty Abatement: Reduce or Eliminate Tax Penalties
If you’re facing penalties from the IRS due to late filings, late payments, or other tax-related issues, you may be eligible for IRS Penalty Abatement. At Cheshier Tax Resolution, we help individuals and businesses reduce or eliminate these costly penalties, giving you relief from additional financial burdens.
What is IRS Penalty Abatement?
IRS Penalty Abatement is a program that allows taxpayers to request the reduction or removal of penalties applied to their tax accounts. These penalties often result from late filing, late payment, or underpayment of taxes. Penalties can add up quickly and increase the amount you owe, making it even harder to settle your tax debt. However, in certain situations, the IRS is willing to forgive these penalties if you qualify.
Types of Penalties Eligible for Abatement:
- Failure to File Penalty: For not filing your tax return by the due date.
- Failure to Pay Penalty: For not paying the taxes you owe by the deadline.
- Failure to Deposit Penalty: For businesses that fail to make required payroll tax deposits.
- Failure to Make Estimated Tax Payments Penalty: If you owe more than $1,000 in tax debt from a prior year, the IRS requires that you make quarterly estimated tax payments to avoid accruing additional debt.
Our experienced team will evaluate your situation and determine if you meet the criteria for penalty abatement.
How Do You Qualify for IRS Penalty Abatement?
The IRS considers penalty abatement if you can show a reasonable cause for why you were unable to meet your tax obligations. Common reasons for abatement include:
- Serious illness or injury
- Natural disasters or other uncontrollable events
- Inaccurate advice from a tax professional or the IRS
- Death of a close family member
- Significant financial hardship
In some cases, you may also qualify for First-Time Penalty Abatement if you have a clean compliance history over the past three years and are current on your tax filings.
First-Time Penalty Abatement
The First-Time Penalty Abatement (FTA) program is one of the most common ways to reduce penalties. If you’ve been in good standing with the IRS and this is your first time receiving a penalty, you may qualify to have it removed under this program.
Our Penalty Abatement Process:
- Free Consultation: We begin with a free consultation to assess your tax situation and penalties.
- Gathering Evidence: We collect all necessary documents and evidence to support your case for penalty abatement, ensuring that we present the strongest possible argument.
- Submitting Your Request: We prepare and submit a formal penalty abatement request to the IRS, citing your reasonable cause or qualification for First-Time Penalty Abatement.
- IRS Review and Decision: The IRS will review your request and make a determination. We handle all communication and negotiations with the IRS to achieve the best possible outcome.
Why Work with Cheshier Tax Resolution?
- Expert Knowledge: We know what the IRS is looking for and how to present your case in a way that maximizes your chances of success.
- Proven Results: Our team has successfully helped many clients reduce or eliminate their IRS penalties, saving them significant amounts of money.
- Stress-Free Process: We take care of the entire process, from gathering evidence to negotiating with the IRS, so you don’t have to worry about a thing.
Get Relief from IRS Penalties Today
If IRS penalties are adding to your tax burden, Cheshier Tax Resolution can help. Contact us today to learn if you qualify for IRS Penalty Abatement and take the first step toward resolving your tax issues.
Call us at 469-647-9950 or fill out our online form to schedule a free consultation today.