Tax Penalty Abatements
Solve Your Tax Debt with the Help of a Cerritos Tax Lawyer
Overdue tax debts which go unpaid can grow by a substantial margin due
to various penalties that the IRS can impose on the principal amount.
In fact, penalties can make up as much as 25% of a person’s overall
tax debt. Fortunately, certain individuals and businesses may be able
to have these penalties reduced or eliminated completely through a process
known as “penalty abatement.”
At RJB Law Offices, our
Cerritos tax attorneys have been helping individuals reduce their tax burden through penalty
abatements for more than a decade. With one-on-one legal counsel and an
unshakable dedication to preserving your personal and financial wellbeing,
we can provide the strong guidance you need to overcome your tax issues
and move towards a new financial start.
The sooner you
contact us, the sooner we can help. Discover your legal options today.
What Is a Penalty Abatement?
The IRS may provide administrative relief for certain tax penalties accumulated
during a single tax period to individuals and businesses who request a
first-time abatement (FTA) penalty waiver. If approved, this effective
tool can be used to remove failure-to-file, failure-to-pay, and failure-to-deposit
To qualify for an FTA, you must satisfy the following requirements:
- You did not previously have to file a return or you have no penalties for
the three tax years prior to the year you received a penalty.
- You filed all required returns or filed for a filing time extension
- You have paid, or have arranged to pay, any taxes due
It is important to note that failure-to-pay penalties will continue to
accrue until your tax debt is paid or otherwise satisfied. For this reason,
it is recommended you wait until you and your attorney have worked out
a suitable solution for the principal amount of your debt prior to pursuing relief.
Other penalty-reducing strategies you may be eligible to take advantage
- Presenting a reasonable cause for non-payment of your tax debt
- Identifying and correcting IRS errors
- Administrative and statutory waivers
Discuss Your Situation for Free
At RJB Law Offices, our Cerritos tax lawyers understand the stress and
helpless feeling that a mountain of tax debt can place on a person’s
shoulders. With compassionate support and a detailed examination of your
financial situation, we can help you get back in good graces with the
IRS so you can push forward with peace of mind. We truly care about your
wellbeing, and we are dedicated to doing everything within our power to
help you get the results you need.
Schedule your complimentary case review today to find out more about how we can assist you.