Blog A levy, in general, is permitting the IRS to legally seize your property to satisfy your tax debt if you do not pay your taxes accordingly (or make arrangements to settle your existing debt). Levies are different from liens as a lien represents a legal claim...
Penalty Abatement
Month: July 2019
Written by cleartaxsupport
July 18, 2019
A possibility to ask the IRS for administrative relief from penalties for failing to file a tax return, pay on time, and/or to deposit taxes. In general, it is possible to ask for a relief from a penalty on basis of:
- Reasonable cause;
- Statutory exceptions;
- Administrative waivers;
- Correction of service errors.
Contact us for more information and to find out what category applies to you.
How does it affect me?
The IRS knows that we all are people and it might happen from time to time that you either forget to pay the tax on time or your payment is slightly postponed due to circumstances out of your control. As a consequence, the IRS introduced the first time penalty abatement waiver that allows you to
ask for possible penalties to be withdrawn. However, acceptance of this request is not automatically granted and you need to prepare such request accordingly.
We can help!
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