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Keep IRS Penalties From Skyrocketing
Facts You Need
to Know
Be Sure You Know Your Rights: The
IRS is successful at collecting
penalty fees because so few people
know they have the right to cancel
the fees! The IRS addresses Penalty
Cancellation in Publication 1 "Your
Rights as a Taxpayer":
IRS penalties make things fair.
After all, how fair is it to those
who pay their taxes on time if the
late filers don't get punished?
But unfortunately for you, penalties
have mutated into being a way for
the IRS to Extort Big Profits out
of taxpayers! Penalty Interest not
only routinely Doubles but also
Triples a Tax Bill.
The IRS can waive penalties
when allowed by law if you can show
you acted reasonably and in good
faith or relied on the incorrect
advice of an IRS employee."
Good Faith 101:
You act
in good faith when your actions
were not intended to break the law.
Even if they were wrong. This can
include ignorance of the law, bad
advice from the IRS, bad advice
from a Certified Tax Professional
(like an attorney), or proof that
you just innocently made a mistake.
Reasonable Cause 101:
Reasonable Cause is a your good
reason for failing to act on your
Tax Debt.
It's important to
notify the IRS of your Reasonable
Cause A.S.A.P. Some common examples
of Reasonable Cause are:
-
Serious Medical Problems (Prolonged
injury or illness)
-
Natural Disasters requiring
you to move (Wildfire, Flood, etc.)
-
Financial Problems due to sudden
unemployment
-
Drug/Alcohol Addiction
-
Loss of financial records NOT
due to negligence
Use Your Common Sense:
Excuses like, "My Dog ate my Tax
Records!" are not going to cut it.
If you can prove you had Good Faith
and Reasonable Cause you can prevent
penalties from accruing on your
debt. You must prove both
without a shadow of a doubt.
ExpressTaxRelief.com US tax help: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, H, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, New NH, New NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
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