What is Penalty Abatement?

Penalty Abatement is a tax solution that can help you eliminate penalties and interest incurred on your tax debt. It cannot remove the initial base tax debt amount that you owed before penalties and interest. You can apply for a penalty abatement if you have a reason why you should not be responsible for paying the penalties AND if you are able to pay your tax debt in full.

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How do I know if my Penalties can be Abated?

Typically you need to have a major grievance in order for the IRS to accept your application for an abatement. You also need to be able to pay your initial base tax debt amount in full.

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What if I'm not Sure What to do?

USTR recommends that businesses and individuals considering a Penalty Abatement consult a quality tax professional first.

Many tax professionals provide a free consultation, which can inform you of your options along with your likelihood of removing penalties and interest. In many cases, you can save thousands of dollars or more by utilizing a tax professional.

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How do I Know if I Should Contact a Tax Professional?

USTR believes that contacting a tax resolution professional is common sense. When you have a medical problem, you contact a doctor. When you have a car problem, you contact a mechanic. When you have a tax problem, you should contact a tax professional. Many tax professionals provide a FREE consultation and USTR can connect you with some of the best tax professionals in the country.

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