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How to Qualify for IRS Penalty Abatement

  • When you fail to pay your taxes on time, the IRS has a lovely way of getting you back for that. It’s called penalties. Penalties are sort of like late fees for not paying your taxes before the date they’re due in mid-April.

    If you haven’t paid your taxes for an extended period of time, such as months or even years, then your penalties could be quite substantial. For some, the penalties make up the largest part of their tax bill.


    Penalty Abatement

    If you don’t have a very good reason for being behind on your taxes and simply procrastinated or just didn’t feel like paying on time, then you probably won’t qualify for penalty abatement.

    However, if you have a good reason for being behind on your taxes, you may be able to petition the IRS for penalty relief. You will have to determine whether you qualify for this, and the IRS will have to approve your request.

    Here are a few factors the IRS looks at when determining whether you have reasonable cause for all or some of the penalties to be forgiven:

    • Were you dealing with a fire, a natural disaster, or other large life disturbance?
    • Was there a death or serious illness in your family, or were you seriously ill?
    • Were you unable to obtain records?
    • Do you have any other reason that meets the “reasonable cause” definition the IRS has laid out?
    • Do you qualify under first-time penalty abatement rules?
    • Do you meet the requirements for statutory exception, which is when you received incorrect written advice from the IRS?


    Do You Qualify for Penalty Abatement? Call to Find Out

    The IRS lawyers at W Tax Group are ready to take your call and hear about your tax debt situation. Give us a call at 1-877-500-4930 to get your free tax debt analysis. You can also visit our website to learn more about how we can help.