Penalty Abatement
Penalties and interest can quickly add up if you've fallen behind on tax payments or filing deadlines, making it even harder to resolve your tax issues. Our Penalty Abatement Service helps you reduce or completely eliminate these penalties, potentially saving you thousands of dollars. We work closely with you to determine if you qualify for penalty relief and guide you through the abatement process.
What Penalties Can Be Abated?
Failure-to-File Penalties: If you’ve missed the deadline to file your tax return, the IRS typically imposes a penalty. We can help reduce or eliminate this penalty under certain circumstances.
Failure-to-Pay Penalties: If you didn’t pay your taxes on time, the IRS adds penalties. We work to reduce these penalties, especially if you can demonstrate reasonable cause.
Accuracy-Related Penalties: These penalties are imposed for underreporting your income or overstating deductions. If the error was unintentional, we can help you request relief.
How Does Penalty Abatement Work?
Reasonable Cause Abatement: If you can show a valid reason for not complying with tax laws (such as illness, natural disaster, or other hardships), we will assist you in demonstrating "reasonable cause" to the IRS.
First-Time Penalty Abatement (FTA): If this is your first instance of a penalty, you may qualify for the IRS’s First-Time Penalty Abatement program, which can result in a one-time waiver of penalties.
Statutory Exceptions: There are specific legal provisions under which penalties can be abated, and we’ll determine if you qualify for these statutory exceptions.
Let Federal Tax Law Group Help!
No matter how big or small your tax matter, We have the knowledge and experience to handle your legal needs and to represent you!