Abatement of Penalties & Interest Attorney Prairie Village, KS

Originally, tax penalties were used by the IRS to speed up the repayment process. If taxpayers understand that the longer they dawdle, the greater the penalties, they will typically pay in a more timely fashion. However, not too long ago, the IRS realized that, in times when government budgets continue to be cut, penalties can be a source of significant revenue for the Government. Penalties are now computed and added automatically by computers, regardless of their validity. Then interest is added on top of that, because the IRS considers all outstanding debts to be loans to taxpayers. There are now over 140 different types of penalties the IRS can assess, including the most common failure to file, failure to pay, accuracy and fraud. As with every IRS program, there’s a complicated, formal process of review that a taxpayer can request to have the penalties eliminated or abated. Arguments can be made in favor of abatement for a variety of reasonable causes, including death, illness, inaccessible records, incorrect advice from a tax advisor or the IRS, fire, and even natural disasters. Siegel Tax Law understand how to successfully present an argument for abatement and negotiate the best possible outcome.