Tax Pentalties & Interest Removal

The IRS regularly charges 50% penalties on unpaid taxes when failure to file and failure to pay penalties are considered. There are ways to have these penalties abated. Unfortunately, it is not a simple task to accomplish. The IRS believes that there are good reasons for these penalties. Well over 90% taxpayers are never assessed penalties or interest because they file and pay on time.

Because additional penalties and interest charges are relatively rare, and, as a result, the IRS is reluctant to remove them, most taxpayers benefit from having a tax professional work with the IRS to gain the removal of the penalties and interest.

Joseph Falcone has been involved in hundreds of situations where he has obtained a decrease in penalties and interest for taxpayers. Of course, there will be situations when the IRS will continue to insist that the penalties and interest remain. The key to the removal of penalties and interest is to understand whether your individual situation can be presented to the IRS in a way to meet the IRS’s criteria for penalty and interest elimination. Joseph Falcone may be able to assist you in the removal of penalties and interest from your tax bill.