How to File a Penalty Abatement Request
If you are late filing your taxes, the first thing you need to do contact the Internal Revenue Service (IRS) and let them know that you still have every intention of filing your annual taxes. You should also expect to pay a late filing and late payment (if you owe) penalty fee. These types of fees accrue on a daily basis. Each time you neglect to pay or file, the penalty fee adds on top of your late fees. This is where the amount you owe can quickly get out of hand. It’s also where many taxpayers find themselves in a substantial amount of debt.
The professionals at Success Tax Relief are passionate about helping taxpayers get out and stay out of debt. One of the ways we do this is by empowering you with information. Many people are in tax debt because they don’t have the information needed to propel them into a better place financially.
Many taxpayers might not even know that filing for a penalty abatement is even an option. As a rule of thumb, if you know you’re going to be late filing and in the process of requesting an extension, then by default, you should also file for a Penalty Abatement Request.
How to File for a Penalty Abatement Request
There are 4 ways to go about filing for a penalty abatement:
- Complete the IRS Form 843
Complete the IRS Form 843 to request an abatement on your annual tax filing. This form is a one-page form with only 7 questions—mostly multiple choice for you to answer. The first portion of the information you’ll need to submit is your name, full address, social security number, Employer Identification Number (EIN), telephone number and of course the dollar amount that you’d like to be abated. Also, don’t forget to sign this document. Neglecting one of these things can result in a delay and more fees added on to your tax balance.
- Call and verbally request a penalty abatement
Anytime you call and speak with an IRS representative, he or she will make a record of the conversation you had. However, we encourage you to ask the IRS representative to provide a written letter to you so that there is some documentation to prove a discussion took place.
- Write a letter to the IRS requesting a penalty abatement
You could also just beat the IRS to the punch and write a letter first. If you do this, we strongly suggest that you not only keep a copy but also send it via registered or certified mail so that you can track and prove that the letter was successfully received by the IRS. Use this sample letter to request your IRS penalty abatement.
- Hire a professional tax relief consultant to handle it for you.
This option is a can’t-lose choice if you select the right tax relief consultant. Success Tax Relief has over 30 years of experience resolving tax issues of every kind. Call 877-825-1179 or contact a consultant online to schedule a free consultation.