Get Rid of Penalties
The IRS and State both increase the amount a taxpayer owes by adding penalties and interest to the unpaid tax. Because of this, in many cases, a taxpayer could pay the tax but still have to deal with a ballooning balance. This balance can quickly become unmanageable, even after you have paid the original debt. However, penalties and interest might be reduced or eliminated if you can demonstrate reasonable cause and prudent action.
Tax representation can make all the difference. Professional tax resolution specialists know how to handle your debt and appeal to the IRS for a better offer. You may qualify for penalty abatement if you meet certain conditions. If you have not previously had to file a return or had no penalties for the 3 tax years prior, you may qualify. You may also qualify if you filed all currently required returns or filed an extension of time to file. Lastly, you could qualify if you have paid, or arranged to pay, any tax due. You may also be able to couple a penalty abatement with an installment agreement, in which you agree to a payment plan.
Seek tax representation to help with your tax penalties and interest. Because professional tax resolution experts are familiar with tax laws and options, they can find the best option for you.