IRS Tax Penalty Abatement
Helping Grand Rapids and Kent County taxpayers reduce and settle tax penalties and interest
Tax penalties and interest are a harsh reality for many Kent County taxpayers who are already dealing with back tax debt. The main problem is, there are over 140 distinct penalties that can be assessed under the U.S. tax codes, which mean your tax penalties can originate from a variety of circumstances. It begins with your tax returns, or lack thereof. The most common tax penalty imposed is for non-filers, individuals or businesses, for whatever reason failed to file their tax returns. After that, penalties applied for filing late tax returns, and ofcourse the misfiled tax returns that incorrectly report income and expenses, which is a whole different can of worms.
As complicated and complex tax penalties can be, at the end of the day it's you, the taxpayer that has to find a way to pay them, or perhaps pursue an option called tax penalty abatement. Just like with settling back tax debt, the IRS will usually grant relief of your tax penalties and interest if you have a licensed representative negotiate a tax settlement. These tax professionals, like our team of licensed tax attorneys and enrolled agents have the power to pursue and secure a tax penalty abatement for you.
Jonathan May - Enrolled Agent
Our IRS Penalty Abatement Solutions Can Address All IRS-Related Penalties
IRS tax penalties typically fall under 5 main categories, with many grey areas and circumstantial factors in between:
- Accuracy-related penalties
- Tax fraud penalties
- Under-payment of tax penalties
- Late filing or failure to file taxes penalties
- Combined penalties
Many are identified as "purposeful" violations, where a taxpayer purposely commits fraud or misjudgement on a tax return. However, most tax penalty infractions stem from mistakes, like forgetting to file or a few miscalculations or oversights on a tax return filing. Either way, the IRS will impose penalties, so having professional IRS penalty abatement is important.
Our firm is comprised of seasoned tax professionals, including Grand Rapids tax attorneys, enrolled agents, and tax accountants that have the collective ability to negotiate with the IRS and rectify any tax filing issues to reduce or eliminate your tax penalties.