#1 Secret – Make IRS Penalties Disappear (Reasonable Cause to Remove IRS Penalties)

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#1 Secret - Make IRS Penalties Disappear

The IRS assesses over $40 million in penalties each year. The most common penalties are late payment, late filing, or a tax return error. Often taxpayers don't know that they can request that the penalties be reduced or removed.

Note: A request to remove IRS penalties is a serious legal argument. This should be done by a qualified tax attorney.
There are multiple reasons that the IRS will waive or reduce penalties, but today we are going to focus on Reasonable Cause.
What Is a Reasonable Cause?
The IRS wants to penalize taxpayers by saying words like failure or negligent. But, often, the taxpayer is just a person doing their best.
Reasonable Cause basically means that you have a good reason for non-compliance. Reasonable Cause is based on the taxpayer's specific facts and circumstances. It can be shown by demonstrating that the taxpayer tried to comply but could not do so because of unforeseen circumstances or hardship.
For example, for late filing and late payment penalties - the taxpayer had circumstances outside of their control that made them unable to comply. For return accuracy penalties - a reasonable attempt was made to report the proper amount of tax on a tax return.
Examples of Reasonable Cause Arguments
In a Reasonable Cause statement, an explanation is given to IRS that the circumstances the taxpayer was going through were unavoidable.
Common examples are:
Long-term illness or death
Disaster (such as a fire or flood)
Loss of records
Reliance on advice (such as advice from your CPA or tax preparer)
Honest error
New or complicated IRS Laws
All of these examples are reasons that could lead to the taxpayer filing their returns late or wrong.
A Reasonable Cause statement is technical. There are a lot of components, and most successful Reasonable Cause statements end up being multiple pages long.
Remember: These requests are legal arguments. Only an IRS taxes lawyer can get the best results.
You may need professional help. If you know you've been penalized unfairly, contact Tax Law Offices. We will come up with a plan to get those penalties removed!

Get Free Strategy Session - https://www.stopirsproblem.com/strategy-sessions/

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To see the full blog article, click here: https://www.stopirsproblem.com/past-cases/irs-tax-attorney-naperville-past-cases/1-secret-make-irs-penalties-disappear/
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Видео #1 Secret – Make IRS Penalties Disappear (Reasonable Cause to Remove IRS Penalties) канала IRS Insiders with J. Anton