Income Tax penalties
We recently paid the IRS around 80,000 in taxes, most of which were interest and penalties. We did this by refinancing our home because they had a lien on it and it was ballooning out of control. I have heard about penalty abatement. do you think there is any way we can get them to give us back some of the penalties?
2 Answers from Attorneys
Re: Income Tax penalties
Absolutely. You need to show reasonable cause as to why you did not pay on time and, if you filed late, why you did not file on time. Generally, just not having the money is not enough, but if I ask you enough questions, I can usually get an abatement for at least one of the years. They will abate the penalties and the interest on the penalties, which in your case may be over $10,000. I can do the penalty abatement request for you and appeal it if it is denied. Call me for a free consultation. Steve Klitzner Miami 18002191118 www.floridataxsolvers.com
Re: Income Tax penalties
its possible -but I would need exact facts -by e-mail to discuss further.
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