In the event you have non-filed income tax returns, the IRS and State not only create exorbitant tax assessments, but they also assess penalties and interest based on the applicable percentage of tax.
There is no better way to reduce penalties and interest than by filing your outstanding returns. Tax Solutions has the expertise to reduce – or completely eliminate the tax – and also penalties and interest.
If your returns have been filed and the penalties and interest are based on the correct amount of tax, penalty abatement (removal) can be achieved if the tax liability was incurred due to: an act of God, fire, theft, death, major illness, or embezzlement of your business income with conviction in a court of law. Simple lack of income does not qualify you for penalty abatement.
Be aware that not everyone qualifies for penalty abatement. Give Tax Solutions Group a call today – we can tell you if you are able to benefit from this program.