IRS Tax Penalty Relief
If you have been hit with IRS tax penalties, you may be able to reduce or eliminate them. Our experienced Utah tax attorneys can help you seek penalty abatement.
IRS Tax Penalty Relief
The IRS imposes a variety of penalties on taxpayers who fail to meet their tax obligations. These penalties can add up quickly, sometimes amounting to 25% or more of your unpaid tax debt. Combined with interest, penalties can significantly increase your total tax liability.
The good news is that many IRS penalties can be reduced or eliminated through penalty abatement. If you have been hit with penalties, our experienced tax attorneys can help you understand your options and pursue the relief you deserve.
If you fail to file your tax return by the deadline, the IRS charges a failure to file penalty of 5% of the unpaid taxes for each month or part of a month that a tax return is late. The maximum penalty is 25% of your unpaid taxes.
If you do not pay your taxes by the deadline, the IRS charges a failure to pay penalty of 0.5% of the unpaid taxes for each month or part of a month after the due date. The maximum penalty is 25% of your unpaid taxes.
The IRS may charge an accuracy-related penalty of 20% if you have substantial understatement of income tax, negligence, or substantial valuation misstatement on your tax return.
The IRS charges a civil fraud penalty of 75% of the underpayment attributable to fraud. This is in addition to any criminal penalties that may apply.
In addition to penalties, the IRS charges interest on unpaid taxes and penalties. Interest accrues daily and can significantly increase your total tax debt over time.
Business owners and managers may be held personally liable for unpaid payroll taxes through the Trust Fund Recovery Penalty (TFRP). This penalty can equal 100% of the unpaid payroll taxes.
Many taxpayers don't realize that penalties can be reduced or eliminated. If you have been charged penalties by the IRS, you may be entitled to penalty abatement.
Our experienced tax attorneys can review your case and help you pursue all available options for penalty relief. Call 801-685-0552 today for a consultation.
The IRS offers several ways to reduce or eliminate penalties. The best option depends on your specific circumstances, including the type of penalty, the reason for non-compliance, and your compliance history.
If you can demonstrate that your failure to comply with tax obligations was due to reasonable cause and not willful neglect, the IRS may abate penalties. Examples include serious illness, natural disasters, or other circumstances beyond your control.
If you have a clean compliance history, the IRS may grant first-time penalty abatement. This administrative waiver is available to taxpayers who have filed and paid on time for the past three years.
In some cases, statutory exceptions may apply. For example, penalties may be abated if the IRS provided incorrect advice or if you relied on written advice from the IRS.
The IRS may grant an administrative waiver of penalties in certain circumstances, such as for taxpayers who relied on incorrect tax forms or instructions.
We are a full-service tax law firm with more than 30 years of experience helping individuals and businesses deal with all of their tax and bankruptcy issues. If you are dealing with IRS penalties, our tax attorneys can help you navigate the bureaucratic process, make sure that your rights as a taxpayer are protected, and resolve your issues in the best manner possible.
The IRS can be aggressive when it comes to collecting penalties and unpaid taxes. If you have been hit with IRS penalties, you'll want our experienced Salt Lake tax law professionals on your side. Our tax attorneys will represent you and help your case reach the most favorable outcome.
We handle all types of IRS penalty matters, including failure to file, failure to pay, accuracy-related penalties, fraud penalties, and trust fund recovery penalties. Whether you are an individual or a business owner, we can help you pursue penalty relief and reduce your overall tax burden.
If you have been charged with IRS tax penalties, don't try to handle them on your own. Contact our office at (801) 685-0552 or schedule a consultation online to learn how we can help.
Over 100 years of cumulative tax law experience. We can help you fight IRS penalties.
Attorney
Spencer Evans brings nearly 20 years of exclusively practicing tax law. He started his career as a state tax attorney working for a state taxing agency and has significant experience working as a tax attorney for Big 4 accounting firms.
Credentials and Expertise:
Attorney
With nearly 40 years of experience representing taxpayers before the IRS and state taxing authorities, Michelle Turpin is recognized as one of Utah's leading tax controversy attorneys.
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Don't pay more than you owe. Our experienced tax attorneys can help you pursue penalty abatement and reduce your tax burden.