Penalty Abatement

What Is A Penalty Abatement?

Penalty abatement is part of the IRS Fresh Start Initiative Program that forgives the penalties on your total tax balance. However, a penalty abatement cannot wipe out a tax liability, it can significantly lower your IRS tax balance. 

What Is Reasonable Cause For IRS Penalty Abatement?

A tax liability is a difficult hurdle to overcome because the IRS is charging you penalties and interest to your monthly balance. If there is reasonable cause for abatement or adjustment, The IRS may be willing to review the penalties which created a tax liability as long as there is reasonable cause for abatement or adjustment. Reasonable cause can include:

• Natural Disaster
• Error by an IRS employee
• Family illness or death
• Incorrect address

How Do I Get An IRS Penalty Abatement?

First you must be fully compliant with the IRS and about one-third of tax penalties are removed by the IRS with help of a successful tax resolution firm. Then simply if you meet the qualifications for a penalty abatement you must fill out IRS Form 843 to request that a tax penalty be removed or refunded. 

Why Work With Fresh Tax Solutions To Secure My Penalty Abatement?

When you work with Fresh Tax to secure your penalty abatement, our professional tax team will set up a plan of action specific to your situation as part of our large strategy to achieve the financial freedom you deserve.