Penalty Abatement Help: How Service Works
Many tax professionals listed on TaxCure have worked many penalty abatement cases. Some are with various states while others are only with the IRS. More importantly, the service is intended for both businesses and individuals.
When you want penalty forgiveness, a tax professional looks at your situation and your supporting documentation. Based on their previous experiences with similar cases, they will let you know if your request is likely to get accepted. You can read more about the options the IRS provides.
How Do Penalty Abatement Services Typically Work?
Many tax professionals will provide a free consultation to see if your tax situation warrants the abatement of penalties. With the IRS, first-time penalty abatement is generally requested with an IRS installment agreement or payment plan. However, penalty abatement is also available as a stand-alone service if the penalties are in the thousands that you want to abate or erase. Here is a summary of how the process works:
- Determine if you are a likely candidate to erase or abate tax penalties (first-time penalty abatement and/or reasonable cause will be reviewed)
- If you are not a likely candidate, we find you the next best solution for your situation.
- If you qualify to have penalties removed, penalty abatement lowers your overall tax liability and can make your payments smaller.
- A tax professional will file a Power of Attorney with the IRS. That stops the IRS from harassing you. Your licensed tax professionals will handle all IRS communications.
- A tax pro prepares all the required documentation and deals with the IRS on your behalf.
You can find a list of tax professionals with penalty abatement experience by doing a search below and then using the search solution filters to filter by "penalty abatement." At TaxCure, we have developed a marketplace of tax professionals with a wide variety of backgrounds. Our system allows you to find the top professional to help with your situation and has experience helping other people with similar situations.