IRS Penalty Abatement: Get Expert Help to Reduce Your Debt
Steve Perry- The IRS imposes various penalties that can significantly increase a taxpayer’s debt, including failure to file (up to 25%), failure to pay (up to 25%), accuracy-related (20%), estimated tax, and trust fund recovery penalties (100% for payroll taxes). - Penalties can be reduced or removed through methods such as First-Time Penalty Abatement (FTA) for compliant taxpayers, Reasonable Cause Relief for uncontrollable life events, statutory exceptions, administrative waivers (e.g., natural disasters), and appeals. - Books, Taxes & More, led by Enrolled Agent Steve Perry, specializes in penalty abatement and can assist with analyzing penalties, choosing relief strategies, submitting IRS correspondence, and negotiating payment plans. - Engaging expert help early improves chances of success, saving time, money, and stress. - Taxpayers facing IRS penalties should promptly seek professional assistance to explore options for penalty reduction or removal, thereby protecting their finances and moving forward confidently.