The Internal Revenue Code authorizes the IRS to impose penalties on a taxpayer who fails to timely file a tax return or who fails to timely pay the tax that is due. The IRS is also authorized to abate penalties that have been imposed under certain circumstances, and is decided on a case-by-case basis.
Generally, if it can be shown to the IRS that the failure to timely pay or failure to timely file was due to reasonable cause and not willful neglect, the penalty will be removed. However, the taxpayer will still be responsible for the underlying tax owed, plus interest.
Let us use our experience in seeking an abatement of penalties due to reasonable cause and get a reduction of the amount you owe. For a prompt evaluation of your case, we encourage you to contact us for a free consultation using our toll-free number at (866) 437-3725.