A sensible tax debt amount can become astronomical when you include IRS penalties and interest. Nevertheless, it’s possible to eliminate IRS penalties and considerably reduce the tax debt amount. If any of the circumstances triggered the tax debt, you have a case for penalty abatement and you need to contact a professional immediately:
The most common IRS charge relief program used is called “Reasonable Cause”. The Internal Revenue Manual gives the following meaning. “Reasonable cause relief is generally granted when the taxpayer works out common service care and prudence in identifying their tax responsibilities but is unable to abide by those obligations.”
Essentially, that suggests something has occurred beyond your control that has actually triggered you not to submit or pay your taxes in a timely way. You also need to demonstrate that you (the taxpayer) took sensible steps to “counter” the occasions and were still unable to pay and or file prompt.
The following list is taken from the IRM or Internal Revenue Manual that provides the standards of what IRS representatives are advised to take a look at when thinking about penalty abatement:
Documentation will be the bulwark of your case. Supply as much evidence of what you are arguing as possible. The “third party” proof you produce the better the chances for relief.
Our tax attorneys CPA and IRS Enrolled Agents are experts in dealing with the IRS penalty abatement. Contact the Tax Attorney Network Today and let us help you take care of all your back tax debt problems.