Let Tax Network USA help you maximize your savings through a Penalty Abatement request. Our Enrolled Agents and Tax Attorneys are experts in Penalty Abatement petitions.
There are several ways to request a Penalty Abatement. For best results, it is recommended to have a tax attorney or enrolled agent prepare a legal petition for penalty relief with a detailed statement of circumstances showing reasonable cause.
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There are several situations that can constitute reasonable cause for penalty abatement. Here are some of the most common reasons accepted by the IRS:
There is a monetary limit on the number of penalties that can be removed. The agency has not published a limit, but it appears to be up to $10,000 for telephonic hearings. Taxpayers can get an FTA over $10,000 but generally requires the request in writing by an attorney or enrolled agent.
Yes, in most cases the IRS will want to see “Good Faith” before granting the penalty abatement request. Meaning the taxpayer should be on some sort of payment arrangement to qualify for more penalty relief.
Tax Network USA specializes in installment agreements and financial analyses. Our tax lawyers and enrolled agents can efficiently streamline the process, from payment agreements to penalty relief for our clients.
Yes, you must file all required returns or extensions (IRS considers you compliant).
If you have outstanding paperwork, you will not qualify. Before applying, Tax Network USA will make sure that you have filed all requested tax returns and extensions with the IRS.
