Studies show that both taxpayers and their professional advisors were unaware of the first-time tax penalty abatement, even as late as 2010 - nine years after its debut. Out of more than 1.5 million taxpayers surveyed by the Treasury Inspector General for Tax Administration, less than 9% of those surveyed received the abatement, mostly due to ignorance.
Rules on tax penalty abatement are murky and "inconsistently applied", stated one Platinum Tax Defender specialist, noting that the IRS has no incentive to advertise their willingness to waive any of the possible 148 penalties under any circumstances. What makes it even more confusing are the "IRS procedures for deciding who qualifies for penalty abatement and for what reason", since circumstances are analyzed on a case-by-case basis.
Qualification criteria are not impossible, simply difficult, and assessment may require the expertise of tax resolution services(http://tax-resolution.me/
Reasonable causes can include a death in the family, severe storm damage resulting in destruction of key records, or some other factor outside the taxpayers' control that was directly correlated to lack of payment or filing. Statutory exceptions can be made for taxpayers owing less than $1,000 when prior year returns show no amount owed, or for those taxpayers in combat situations. Other opportunities for abatement, such as IRS administrative errors or "hazards of litigation", in which the IRS may assess that the case against the taxpayer would not stand court scrutiny, may be more difficult to obtain. Financial hardship can also result in the IRS waving payment that it would otherwise obtain, through bank levy or property seizure, but the risks of possible bank levies are high.
Taxpayers are urged by Platinum Tax Defenders not to file late or intentionally misrepresent data, as this can make it difficult to obtain penalty abatement under any circumstances.
Platinum Tax Defenders offers a free consultation by phone, without further obligation, so that taxpayers can be informed of their rights and possible solutions. Platinum Tax Defenders has a dedicated team of 10 professionals (including tax attorneys, CPA's and former IRS agents) with a ten-year track record of stopping bank levies, removing tax liens, and obtaining tax payment relief. Most initial consultations range from 20 to 45 minutes, in which a qualified tax resolution professional can examine the specifics of the situation and offer strategies for dealing with the IRS.
For more information from Platinum Tax Defenders on stopping property seizure and getting help with back taxes, call 1-877-668-1807 or send an email to firstname.lastname@example.org.