When IRS penalties are added onto your tax bill, it can quickly make a bad situation worse. The IRS uses tax penalties as a way to encourage compliance and compel payment, and as a result, the tax penalty can often feel severe. Tax penalties can be assessed for:
- Late filing
- Late payment
- Frivolous returns
- Excessive claims
- Underpayment of estimated tax
- Returned checks
- Missing SSNs
- Unreported tips
However, under some circumstances, many of these types of penalties can be reduced or removed altogether. If the taxpayer meets the requirements to demonstrate reasonable cause, part or all of the tax penalty can be eliminated.
At Taxation Solutions, Inc., our team offers comprehensive penalty abatement services as part of our wide range of tax resolution approaches. We can assess your case to determine if you meet the requirements for reasonable cause and then petition the IRS to remove those tax fines and fees. Each case is judged individually, but we’ve been in the tax help business for 40 years, and we have an extensive understanding of how to best present your situation and documentation to help you secure the best possible outcome.
In Milwaukee and beyond, our tax specialists are here to help you deal with tax penalty problems and get you back on the road to tax compliance.