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When you call for your no-cost, no-commitment consultation, we’ll discuss your current financial and tax debt situation, including any IRS tax penalty and interest issues.
We’ll look further into your tax debt and formulate personalized recommendations for how to deal with your IRS tax penalties.
Whether we decide to pursue IRS tax penalty forgiveness or another avenue of IRS tax penalty abatement, we’ll work with the IRS on your behalf to get you the resolution you deserve. You’ll be kept informed at every step and will always be able to reach us by phone or email.
- Dennis W.
The penalty for not filing tax returns can be financially burdensome. The IRS assesses not only a punitive charge but adds interest for failure to file tax returns, which accrues on any liability not paid by the filing deadline. These charges are difficult to get removed and can quickly inflate the total debt you owe.
If you don’t file a return, you haven’t got away with anything yet – the IRS can file for you through a Substitute for Return (SFR) in addition to charges.
Other consequences beyond monetary fees include IRS liens, bank levies, and wage garnishment. Among these IRS tax fraud penalties, the most severe but possible if you fail to file tax returns is imprisonment for each year that is unfiled.
Tax debt can be an unwelcome and overwhelming financial strain, often leading to sleepless nights and worries about what the IRS will do next. One option to mitigate the financial strain is to submit an IRS tax penalty abatement form (Form 843, Claim for Refund and Request for Abatement), which can reduce your liability if approved. Even with abatement, interest attributable to the unpaid debt will remain.
There are two main types of IRS tax penalty abatement: