TAX SERVICES
Our team of industry experts and tax professionals partner with business owners to minimize tax liability and ensure tax savings. We provide strategic tax planning that integrates both personal and business objectives.
Whether it is a personal tax strategy that dramatically affects your business plan or a business tax strategy that affects your family’s future; our tax advisors are experienced and experts in tax research and tax planning to ensure that your overall tax burden is minimized.
Penalty Abatement
If a hefty tax bill you can’t pay isn’t enough, there can also be penalties and interest that are piling up and from which you may need relief. Penalty abatement is a form of tax relief meant for those with special circumstances that have led to an inability to pay taxes, such as experiencing a natural disaster, hospitalization, serious illness, or other uncontrollable circumstances. This is known as reasonable cause penalty abatement.
There is also a first-time penalty abatement, which is the most widely available type of IRS waiver. If you don’t have a track record of tax penalties and not filing your taxes on time in the past, the IRS may qualify you for a first-time penalty abatement where they will waive your penalties.
Every day your bill goes unpaid, the IRS will tack on a substantial amount of fees and interest for each day the amount owed goes unpaid. So it’s worth seeing if you qualify for penalty abatement.
