Wednesday, August 24, 2016

IRS PENALTIES AND INTEREST - SOME FACTS - ADVANCE TAX RELIEF - www.advancetaxrelief.com

When the IRS hits you or your business with a tax bill, it usually adds penalties and interest. These charges can be shocking - an old $6000 tax bill could have a $15000 tax penalty and interest charge added.


Some penalties, such as late payments, are added automatically by IRS computers. Or the IRS may impose penalties if they find that you violated a tax code provision or filed a late return. 

Tax penalties are non tax deductible when you pay them. 

1. Whenever the IRS find a business or its owner was late in filling a return.
2. if you or your business is hit with a penalty, it may be cancelled if you can show "reasonable cause" 
3. You are entitled to a full explanation from the IRS of any penalty imposed and how it was added
4. It is more difficult, but not impossible, to get the IRS to drop the interest then the penalties on your tax bill 

THREE COMMON REASONS FOR PENALTIES
1. INACCURRACIES: The IRS can hit you with a 20% penalty if you were negligent (unreasonable careless) or substantially understated your taxes. 

2. CIVIL FRAUD: If the IRS finds that you under reported your income with a fraudulent intent, a fine of 75% can be added or your case could go criminal. If you have major skeletons in your closet, call us (800)790-8574 or text 657-777-2084 to schedule a phone appointment. 

3. LATE FILING: If you're late in filing income tax returns or other forms, the IRS can penalize you an additional 5% per month on any balance due. However, the penalty can be applied only for the first five months and up to a 25% maximum charge.

If you have tax problems or owe the IRS and cant afford to pay, contact us 800-790-8574.

Advance Tax Relief LLC is a full service Tax Relief firm in which includes tax professionals, IRS enrolled agents and Tax Attorneys.
We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit ourwww.advancetaxrelief.com

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
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Have tax problems? Call (800)790-8574

TESTIMONIAL:
“My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful” – Shirley W, Tampa FL

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ADVANCE TAX RELIEF is not a Traditional CPA or Law Firm. We are Professional Tax Organization of Tax Attorneys, IRS Enrolled Agents, Tax Professionals and Ex IRS employees that help struggling Taxpayers settle or resolve that back tax problems. Call us (800)970-8574 for a free consultation.