Expertise In Navigating The Penalty Process
Reduce or Waive Penalties Associated With Tax Debt
Must meet qualifying criteria for possible reduction of debt
Tax Penalty Abatement in Great Falls
Do you live in Great Falls and owe taxes to the IRS or the state? Penalties, interest, and fees can make tax debt even more unmanageable. Common penalties are due to taxpayers filing their taxes late or from simple errors on their tax returns. These honest mistakes shouldn’t require paying significant penalty fees. With the help of an experienced tax professional, you may qualify for tax penalty abatement to waive penalties associated with your tax debt.
Penalty abatement is when the IRS or state taxing authorities grant relief from interest and penalties if a taxpayer meets certain criteria. Qualifications for receiving penalty abatement can vary depending upon whether state or federal taxes are owed. When you work with an experienced tax lawyer, they can help assess your eligibility by reviewing your financial information and personal circumstances.
What You Should Know About IRS Tax Penalty Abatement
If a taxpayer’s tax issue was caused by extenuating life-changing circumstances, such as sickness, death, divorce, or financial hardship, the IRS takes this into consideration when determining eligibility for penalty abatement. In addition, the IRS offers a first-time penalty abatement to taxpayers who haven’t had a previous tax issue. This option may not be available to everyone.
What You Should Know About State Tax Penalty Abatement
States have different eligibility criteria. To know if you qualify for your state’s penalty abatement program, it’s best to work with a tax professional familiar with penalty abatement procedures in your state.
Get the Tax Penalty Relief You Need in Great Falls
If you live in Great Falls and are facing tax penalties from the IRS or the state, you need the help and support of a knowledgeable tax professional. At Key Tax Group, we specialize in penalty abatement for Great Falls residents. Our specialists understand complex tax code, state qualifying criteria, and have the experience to guide you through an abatement process.
Contact Key Tax Group today for more information on how we can guide you to relief from tax penalties and debt with our no obligation, free consultation.