What tax penalty abatement do you qualify for?

Many people don't know that the IRS allows tax penalty abatement for penalties and interest or a refund if you experienced extenuating circumstances that prevented you from filing your tax return.  To qualify for abatement, you must show the IRS that you had a “reasonable cause” for not paying your income taxes based on the facts and circumstances of your case.

Here are some of the most common reasonable causes for abatement:

  • Embezzlement or theft issues
  • Unforseen diasters (fire, flood, hurricane, etc)
  • Relied on poor accounting practice or tax advice
  • Serious personal health conditions
  • Serious health conditions of an immediate family member
  • Death of a family member

You must proof to the IRS that you did your “due diligence” and was not "negligent” in attempting to repay the income tax debt that you owed.

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