Tag Archives: irs penalty

IRS to Waive a 2018 Penalty That Will Impact Over 400,000 Tax Filers

Good news may seem impossible when it comes to taxes and the IRS, but it arrives every so often. This is certainly true in 2019. Many tax filers will be pleased to learn of an exciting development involving 2018 federal taxes: a notable underpayment penalty has been waived, allowing over 400,000 taxpayers to breathe a […]

Why You (Generally) Should Fight Your IRS Penalties

How did you first respond when you learned you had been targeted by the IRS? If you’re like many Americans, you immediately assumed that you would eventually need to pay up. This widespread belief perhaps explains a concerning 2012 Treasury Inspector General for Tax Administration report indicating that just eight percent of taxpayers have requested and […]

IRS First Time Abatement Saves Client $20,000!

We have a new client who hired us last week concerning his 2006 IRS tax debt totaling over $82,000! He has a significant amount of IRS penalty and interest and wants us to mitigate some of the debt. We discussed several ways to mitigate the tax debt including IRS penalty and interest abatement, IRS first time […]

5 Reasons to Solve Your IRS Issues in 2018

Putting off dealing with tax problems won’t make them go away, and it will probably make things worse. Possibly far worse. Most business owners don’t struggle with taxes because they set out to defraud the IRS. Some get involved in deals that go south and lead to massive cash flow problems. Others grow their companies […]