Getting Relief for Tax Problem Resolution through First Time Penalty Abatement

The Internal Revenue System (IRS) is a well-known agency that assesses penalties and imposes interest charges on people who fail to comply with tax policies or do not file their tax returns on time.

 

However, tax filers are often unaware that there are tax problem resolution methods like penalty abatement. First Time Penalty Abatement is one such relief that you can avail as your right. The IRS only offers this relief to those filers who have been consistent in the past.

 

First Time Penalty Abatement is an administrative waiver that can be requested in situations like failure to file or failure to pay the penalties. For example, if business owners do not deposit the imposed payroll taxes in time, they can request a relief under this waiver process. However, the applicants may give other reasonable causes for not being able to follow the IRS deadlines.

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  • Who Can Qualify the IRS First Time Penalty Abatement?

    In order to qualify for IRS relief, the applicant taxpayer must qualify the following criteria:

     

    • There mustn’t be penalties imposed on the taxpayer in the last three years. However, if you have availed the administrative waivers in the past, you can still qualify for it again.
    • The applicant must either have paid all the taxes that are due or have made arrangements to pay them under an installment agreement.
    • The filing compliance in the past must be clean.
  • Reasonable Causes to for Tax Problem Resolution

    There must be a “reasonable cause” for not paying the tax returns on time. The IRS closely investigates this cause when considering whether to abate the penalties or not. Some of these causes are explained below:

    • Depression cause by death , severe illness or any other inescapable circumstance (incarceration or you had to take care of your sick family );
    • There was a sudden financial setback because of divorce;
    • Unforeseen termination from the job without a notice period;
    • Natural disasters, fire outbreak or any other form of hardship; and
    • Mental illness or rehabilitation because of drug or alcohol addiction.

    There may be other similar inevitable situations that prevented you for tax problem resolution. It is important to note that reasonable cause must be an incident or a circumstance that was beyond your control.

  • Explore the Tax First Time Penalty Abatement Options with Exigo Business Solutions

    Even though the abatement can be requested over phone by calling at 866-860-4259, Exigo Business Solutions in Kansas City Metro area can help you with filing the First Time Abatement application. The IRS makes sure that the history of the filer is absolutely clean. It makes use of software that determines the eligibility criteria based upon the reasonable cause provided. But, this decision support software has been known to determine the eligibility criteria incorrectly. Therefore, Exigo Business Solutions ensure that the relief documents for penalty abatement, such as, reasonable cause only increase the chances of getting the relief. All the qualification rules are followed and the experts will help you navigate through the process with effective tax problem resolution strategies so that you get your rights.

118 N Conistor Lane, Suite B300  |  Liberty, MO  64068  |  (816) 479-2800

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Questions?  Call 816-479-2800

 

Free 30 Minute Phone Consultation

Start Resolving Your Tax Problems

Free 30 Minute Phone Consultation

Start Resolving Your Tax Problems