IRS Penalties and Interest -Frequently Asked Tax Questions

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IRS Penalties and Interest -Frequently Asked Tax Questions

I RECEIVED AN IRS NOTICE CLAIMING PENALTIES!

If you disagree, and the amount is significant enough, you can:

a) review the IRS’s reasons for penalty relief and file an appeal;

b) pay them and file a claim for refund on form 843; — See More On Penalties

THE IRS ADDED EVEN MORE PENALTIES WHAT DO I DO?

Penalties will continue to add on past due taxes.

There are also penalties for not filing required documents. — See Penalties & Interest

IRS CHARGED ME TRUST FUND PENALTIES??

Are you liable? — See Trust Fund Rules

Call R.O. and prove your case – file appeal of trust fund. — See Trust Fund Appeals

IRS ADDED INTEREST TO MY BILL!

The following are acceptable reasons to remove interest:

  • IRS delay in processing.
  • IRS error.
  • IRS issued erroneous refund.

I HAVEN’T FILE MY TAX RETURNS! I AM SCARED OF PENALTIES! WILL THE IRS CHARGE ME PENALTIES FOR NOT FILING MY TAX RETURNS ON TIME?

There is a penalty for not filing your taxes before the deadline. Failure to file penalty is charged from the date your tax returns were due until the date they receive them. See more on Penalties and Interest.

I’VE NEVER GOT THEM TO AGREE, GOOD LUCK! — See More On Interest Removal And IRS Error

REMOVE MY IRS PENALTIES!

Call us and we will start working on it! — See Penalties And Interest

I OWE IRS BACK TAXES! I CAN’T PAY THE AMOUNT IN FULL! DO I HAVE TO PAY PENALTIES IF I SET UP AN INSTALLMENT AGREEMENT?

The IRS will charge you penalties for the amount unpaid, until you pay off your tax debt. See more on IRS Penalties.

HOW DO I REDUCE IRS PENALTIES?

It’s easy. — See Penalties And Interest

REDUCING OR ELIMINATING IRS TAX PENALTIES! HOW CAN I REDUCE OR REMOVE PENALTIES?

You can apply for a Penalty Abatement. You must convince the IRS why your penalties should be reduced or removed. See more on IRS Penalties.

DOES PENALTY ABATEMENT HELP TAXPAYERS TO SOLVE THEIR BACK TAXES? GOOD REASONS TO REQUEST AN IRS PENALTY ABATEMENT!

The IRS may agree to reduce or remove your penalties, if you encountered major problems, disasters, if you had a serious illness, or you were financially unable to pay your taxes in time. Other reasons concerning your inability to pay may be accepted. See more on IRS Penalties.

CAN I GET PENALTIES OFF BECAUSE OF SEVERE HEALTH PROBLEMS?

Maybe, see Pentalties And Interest.

REQUESTING A PENALTY ABATEMENT! WHAT SHOULD I DO? WHAT DO I HAVE TO KNOW?

In order to receive a positive response from the IRS, you will need to determine a reasonable explanation for the penalty abatement request. Consider a tax professional when composing the IRS Penalty Abatement Request Letter. Attach any documentation that supports your reason. See more on IRS Penalties.

I HAVE A LOT OF PENALTIES FROM A TAX AUDIT!?

Penalties for late paying.

Negligence and substantial understand penalties. — See More On Penalty Removal

CAN I REDUCE OR REMOVE INTEREST FOR UNPAID TAXES? CAN I REQUEST AN INTEREST ABATEMENT?

If the interest applied is the result of an IRS error, you can get request an Interest Abatement. See more on IRS Penalties and Interest.

CAN I GET INTEREST REMOVED DUE TO HEALTH PROBLEMS?

Maybe, click Pentalties & Interest.

IRS ABATEMENT OF PENALTIES AND INTEREST! RELIEF OF TAX PENALTIES! HOW CAN REDUCE PENALTIES AND INTEREST ON FEDERAL TAXES?

We can help. See IRS Penalties.

WHEN CAN I REQUEST A PENALTY ABATEMENT FOR UNDERPAYMENT OF ESTIMATED TAX?

The IRS may waive your tax penalties when you can prove that failure to make estimated payments was due to a reasonable cause. See more on IRS Penalties.

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