IRS Tax Relief of Penalties

In recent years I have seen the IRS take a new direction in their efforts to collect on delinquent taxes. Increased filings of Notice of Federal Tax Lien, Notice of Levy and bank accounts and wages, seizures of properties and other assets.

New laws have also made it increasingly difficult for taxpayers to obtain the overly advertised pennies on the dollar solution of an Offer in Compromise. Taxpayers need to know that not all will qualify for an Offer. However, there are many alternatives that the IRS personal will not suggest, alternatives that can help reduce or minimize your tax obligations.

One alternative may be to file an appeal to request abatement of the penalties and adjustment of interest for assessed taxes. The IRS allows for relief from assertion and assessment of penalties if you can show you acted reasonably and in good faith or relied on incorrect advice of an IRS employee. The IRS will give relief of interest that is the result of certain errors or delays caused by an IRS employee.

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