If you have outstanding tax debt, we can help. We’ll work to save you money while resolving your debt with the IRS.
Unpaid taxes can accrue interest and penalties. These penalties can build up over time and turn into a significant part of your overall tax debt. Even if you have the funds to pay off your tax debt, you may not have realized how much these penalties can be. However, penalty abatement is one way that you can have penalties removed. If you meet the criteria for abatement, the IRS will relieve you of certain penalties. While not every penalty can be removed, about one-third of penalties are eventually taken away by the IRS. To ensure the best possible outcome, you should contact a tax professional who specializes in tax resolution services. At Solvent Tax Relief, we are experienced in helping taxpayers achieve the best possible outcome for their tax debt situation. Our tax resolution services can help you pay less than you originally owed and relieve financial burdens. To learn more or to begin the process of penalty abatement, contact Solvent Tax Relief at [Direct] today. 

What Is Penalty Abatement?

woman talking about penalty abatementSome common penalties that the IRS might add to your overall tax debt include penalties for failing to file a tax return, failing to file on time, or for failing to deposit. While interest that accrues on tax debt cannot be relieved, penalties can be waived by the IRS.  One common type of penalty abatement is the first-time penalty abatement waiver. This was created to reward taxpayers who otherwise have a clean compliance history with a one-time waiving. This can take away any penalties associated with failing to file or other issues. In order to qualify, taxpayers must satisfy the following criteria:
  • Clean penalty history
  • Payment compliance
  • Filing compliance
The IRS also offers reasonable cause and statutory exceptions as forms of penalty relief. A reasonable cause for abatement occurs when there has been an error, potentially on behalf of the IRS, that has created a tax liability. Types of reasonable cause can include an incorrect mailing address, a clerical mistake on behalf of the IRS, or a natural disaster. A statutory exception is similar to reasonable cause in that you can have penalties waived if you have received incorrect written advice from the IRS. 

How to Get a Tax Penalty Adjustment

How can you qualify for penalty abatement? Reach out to Solvent Tax Relief for tax relief services. Our tax professionals will gather all necessary information, fill out the required forms, and will communicate with the IRS on your behalf.  Dealing with the IRS can be complicated. Filling out the wrong form or providing the wrong information could potentially cause more damage to your situation. However, our tax professionals are equipped to help you achieve the best possible outcome.  To qualify for a penalty abatement, you will need to provide recent tax returns, communications with the IRS, and identifying information. Your Solvent Tax Relief representative will call the IRS or mail-in forms as necessary. Even if the IRS does not grant penalty relief, your tax professional can make an appeal on your behalf.

Solvent Tax Relief Can Help

Don't let tax debt cause you any more concerns. If penalties are adding up, reach out to Solvent Tax Relief today. During your consultation, we will work to understand your tax debt situation and begin investigating possible methods of resolution. Our tax relief services include all of the following: Reach out to the Solvent Tax Relief team today at [Direct]. We're ready to help you find relief from tax debt.