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Penalty Relief
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Let Us Help Eliminate Your Tax Penalties
The amount that a taxpayer owes can at times be just the tip of the iceberg. The IRS adds daily penalties and interest to the unpaid tax with the ever-mounting balance sometimes becoming unmanageable in a short period.
The IRS may provide relief from a penalty that would otherwise be applicable under its First Time Penalty Abatement policy or by a taxpayer demonstrating reasonable cause.
Under the First Time Penalty Abatement program, you may qualify for administrative relief from penalties for failing to file a tax return, pay on time, and / or to deposit taxes when due if the following are true:
- You didn’t previously have to file a return or you have no penalties for the 3 tax years before the tax year in which you received a penalty.
- You timely filed all required returns or filed an extension of time to file.
- You have paid or arranged to pay any tax due.
Reasonable cause is based on all the facts and circumstances in your situation. The IRS will consider any reason which establishes that you used all ordinary care and prudence to meet your Federal tax obligations but were nevertheless unable to do so. Typical situations might include:
- You received incorrect oral advice from the IRS.
- Fire, casualty, natural disaster, or other disturbances.
- Inability to obtain records.
- Death, serious illness, incapacitation, or unavoidable absence of the taxpayer or a member of the taxpayer’s immediate family.
Advantage Tax Relief Inc can often have penalties reduced or eliminated by claiming the First Time Penalty Abatement or demonstrating a reasonable cause on your behalf. Contact us today for more information or to discuss your situation with a free consultation. We're backed by 25 years of business experience.
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COVID-19 update:
Advantage Tax Relief, Inc. is open and helping clients via no-cost initial telephone consultations, no- contact document drop-offs, and electronic communications throughout the process.
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