Whenever a tax payer is caught by penalties and interest that can accrue on a tax debt, it can easily overwhelm them. On top of your original tax debt, penalties and interest can make your original liability stand still, regardless of your payments. How can you get through it? Having a company file a penalty abatement could be the answer to your question.
What exactly is a penalty abatement? When you have a tax debt with the IRS, they will continue to tack on penalties and interest on top of the original debt. The penalty and interest that is added onto your debt does not take into consideration the situation you are in that is causing you to be unable to pay the tax debt. Even when a tax payer has a legitimate reason to not pay their debt, the IRS does not take it into consideration and instead charges even more onto the debt. The penalties and interest continue to accrue until a penalty abatement is filed and approved.
You will have to file any taxes for the years you have not filed if you want to be considered for any kind of penalty abatement. Tax One Solutions can help you do that by helping you prepare your delinquent tax returns. Once all of the delinquent tax filings have been submitted, you can then begin to work on getting a penalty abatement provision from the Internal Revenue Service: Tax One Solutions will help you with the application process as well.
The IRS requires that you use their forms to request any kind of penalty abatement. If you have not worked with extensive IRS documentation, this form can prove extremely complicated. What's more, you will have to be fully prepared to illustrate reasonable cause as to why you fell behind on your tax payments. The IRS has very strict guidelines for what can be considered a reasonable cause; such reasons may include, but are not limited to, poor accounting, the death of close faimly members, alcohol/drug issues, theft and/or embezzlement, first time tax filer of new tax forms, a prolonged period of unemployment, natural disasters, destroyed/lost records, and more.
When seeking a penalty abatement you will have to prove to the IRS that you have attempted to make all payments with due diligence and that you have not acted neglectfully as well. Tax One Solutions aids you as you get your documentation and paperwork prepared. We ensure that you submit everything you need to in a timely fashion and as completely as possible. This will later ensure that upon review of your penalty abatement request you will be in a better position for approval.
Tax One Solutions strives to get your penalties and interest radically reduced if not entirely eliminated for you. If you have already paid on your interest, penalties, and tax debt and you get approved for the penalty abatement, the Internal Revenue Service will send you a refund of the interest and penalties you have already paid. Tax One Solutions maintains the necessary experience and expertise you need in order to get your penalty abatement request approved by the Internal Revenue Service. We know what it takes to get the documents and necessary proof in proper order, how to submit your application to the IRS, and how to make you feel less stressed throughout the process.
What exactly is a penalty abatement? When you have a tax debt with the IRS, they will continue to tack on penalties and interest on top of the original debt. The penalty and interest that is added onto your debt does not take into consideration the situation you are in that is causing you to be unable to pay the tax debt. Even when a tax payer has a legitimate reason to not pay their debt, the IRS does not take it into consideration and instead charges even more onto the debt. The penalties and interest continue to accrue until a penalty abatement is filed and approved.
You will have to file any taxes for the years you have not filed if you want to be considered for any kind of penalty abatement. Tax One Solutions can help you do that by helping you prepare your delinquent tax returns. Once all of the delinquent tax filings have been submitted, you can then begin to work on getting a penalty abatement provision from the Internal Revenue Service: Tax One Solutions will help you with the application process as well.
The IRS requires that you use their forms to request any kind of penalty abatement. If you have not worked with extensive IRS documentation, this form can prove extremely complicated. What's more, you will have to be fully prepared to illustrate reasonable cause as to why you fell behind on your tax payments. The IRS has very strict guidelines for what can be considered a reasonable cause; such reasons may include, but are not limited to, poor accounting, the death of close faimly members, alcohol/drug issues, theft and/or embezzlement, first time tax filer of new tax forms, a prolonged period of unemployment, natural disasters, destroyed/lost records, and more.
When seeking a penalty abatement you will have to prove to the IRS that you have attempted to make all payments with due diligence and that you have not acted neglectfully as well. Tax One Solutions aids you as you get your documentation and paperwork prepared. We ensure that you submit everything you need to in a timely fashion and as completely as possible. This will later ensure that upon review of your penalty abatement request you will be in a better position for approval.
Tax One Solutions strives to get your penalties and interest radically reduced if not entirely eliminated for you. If you have already paid on your interest, penalties, and tax debt and you get approved for the penalty abatement, the Internal Revenue Service will send you a refund of the interest and penalties you have already paid. Tax One Solutions maintains the necessary experience and expertise you need in order to get your penalty abatement request approved by the Internal Revenue Service. We know what it takes to get the documents and necessary proof in proper order, how to submit your application to the IRS, and how to make you feel less stressed throughout the process.
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Tax One Solutions has a reputable history of finding solutions for your tax problems. Specializing in tax relief, Tax One can help you get your tax debt resolved.