How Can I Get IRS to Waive Penalties and Interests
In theory, the law allows the IRS to waive penalties and interests in certain situations. In reality, however, the chances your case is one of them is quite slim.
Who Qualifies for a Waiver of Penalties and Interests
- A US citizen who can prove that they were not in the country during the tax year they have incurred penalties and interests, and they had no means of accessing the changes made to the tax laws.
- A person who has lost their spouse or a close relative. A death certificate must be provided.
- A person above the age of 62.
- A person who has recently retired.
- A person who has had to move to a different place due to a natural disaster.
- A person who lives below the poverty line for their family size.
- A person who has been given bad tax advice in writing.
If you consider yourself a part of any of the above categories you may get the IRS to waive penalties and interests on your tax account if you have all the relevant and necessary documentation to prove it. However, it is crucial that you use reliable tax accountant who can give you the right advice and help you go through the process. It isn’t easy to be granted a waiver.
If this doesn’t work for you, you may also try to go one of these routes to relieve your tax debt:
- Submit an Offer in Compromise
- Apply for Installment Payments
- Apply for Currently Non-Collectible Status
If you need help with filing tax returns for previous years, please contact us at email@example.com.
Like this article? Join our Tax Facebook Group: IRS Tax Debt Resolution
Request a Confidential Consultation
FAS CPA & Consultants
9000 SW 137 AV Suite 224 Miami, FL 33186 T: 786-462-7899 E: firstname.lastname@example.org