Houston, Texas Tax Audit and IRS Penalties Attorneys
IRS penalties and interest are widely misunderstood. Most taxpayers believe that these often exorbitant charges can be waived with a simple request. In fact, the process is much more complex.
Interest can only be waived in very limited circumstances in which the interest wa s assessed due to some delay by the IRS. For the most part, where interest is concerned, it is what it is.
Penalties, on the other hand, can be abated if there was some reasonable cause basis for the compliance issue which gave rise to the penalty. For example, if a taxpayer's records are destroyed by a fire or natural disaster just before a filing due date, that event may constitute a valid reasonable cause for the taxpayer's failure to timely file their return. Similarly, if a taxpayer is hospitalized, and unable to work, for a period of time, a valid reasonable cause may exist for the taxpayer's failure to timely pay their taxes due.
The most successful penalty abatement requests are supplemented by a legal memorandum which includes an outline of the circumstances of the case and a discussion of the relevant legal issues. In-depth knowledge of how courts have ruled in similar cases is invaluable in knowing the best way to present your case before the IRS.
At Hammond Law Group, PLLC, we are intimately familiar with case law regarding IRS penalty abatement. Contact an IRS penalty attorney today for a free consultation to see how we may help you reduce your tax liability.
