Metro Area- Milwaukee-Waukesha-West Allis, WI MSA
The taxpayers in Milwaukee, Waukesha and West Allis areas should know that it is possible to get penalty abatement from the IRS. If you have been suffering from the tax penalties assessed by the IRS, like thousands other taxpayers, it is possible to get penalty abatement legally from the IRS.
IRS levy penalties on taxpayers who are not able to pay their taxes on time. Taxpayers with tax debt have to pay penalties to the IRS if they are not able to pay the tax debts. The IRS penalties add up to big amounts along with the interest, which the taxpayers may not be able to pay.
Penalty abatement simply means that a part of the total amount you owe to the IRS as penalties assessed on tax debt is forgiven by the IRS. It is also possible to get hundred percent penalty abatement, if you qualify.
It is sole discretion of the IRS to decide which particular taxpayer can get the penalty abated. You should have a reasonable cause to show the IRS and convince them that you qualify for the penalty abatement. It will also depend on your particular facts, hardships and circumstances.
According to IRS guidelines the abatement should be "generally granted when the taxpayer exercises ordinary business care and prudence" in trying to pay their taxes. That is why it is important to file your tax return and pay a token amount, even though you cannot afford to pay the full tax amount.
Penalty abatement is a very good option to get a partial or full forgiveness of the back taxes you owe. You should always present a human face, such as special circumstances and hardships, in your case to the IRS for penalty abatement.
It is also possible that the IRS will refund you back the penalties that you already paid to them. You can reduce the levied interest and penalties on your back taxes and it means saving tens of thousands of dollars.
However, you should hire an expert tax relief professional to represent you, someone who can advise you on what to do and how to apply for the penalty abatement. Professional guidance can help you improve the possibility of success. Someone who is experienced in tax controversy matters can help you to present your case in a better form.
You should seek penalty abatement if there are problems like natural disaster, new to tax filing, bad tax advice, mental problems, long time unemployment, misplaced financial records or any other such problems. If there is a mistake on the part of the IRS in assessing your tax, you can ask for penalty abatement.
Get expert tax help today by calling Mike Habib, EA at 1-877-788-2937