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The IRS issued over $18,000,000,000.00 (that's
18 Billion Dollars) in penalties during a recent year. This is a huge number.
If you're one of these taxpayers, there is hope. Taxpayers
that are hit with IRS penalties can request the penalties to be abated.
Abated means to completely or partially remove. In many cases where a
taxpayer requests abatement, the IRS removes 100% of the penalty.
The IRS requires that you have a good reason to request
penalty abatement. What qualifies as a good reason? It depends on the
circumstances involved with your particular situation.
The IRS procedures for deciding who qualifies for penalty
abatement and for what reason seem to differ in each case. The best thing
you can do is to request that the IRS abate your penalties by providing the
circumstances surrounding your situation.
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