Relief From Tax Penalties
As if keeping up with your tax payments wasn’t enough, penalties can seriously put a damper on your financial well-being. Unfortunately, there’s no shortage of reasons why penalties can be applied regarding your federal or state taxes. It can happen for a number of reasons, from the mundane to the criminal. These can include: failure to pay, underreporting, failure to file, criminal penalties like fraud-related charges, penalties related to audits, and many more. All this adds up to a whole lot of inconvenience during an already stressful time. The good news is that our team of legal professionals at Benner & Weinkauf P.C. can give you the support you need. Together, we can see to it that these penalties are lowered or disregarded altogether depending on your financial status and the set of circumstances surrounding your unique case.
Show That You’re Trying To Be Proactive
Most of the time, you will receive a notice that allows you to address your issue directly before a penalty is assigned to your case. If something happened to where that just wasn’t possible, there’s still hope. According to the IRS, you may qualify for relief from penalties for a number of reasons. If you made an effort to comply with the requirements of the law but were unable to do so for whatever reason, you may be eligible. If you wanted to comply but circumstances that were out of your control, such as your financial status or other mitigating factors, led to to that not being possible, you may still be eligible. The important thing is that you’re showing that you’re trying to do the right thing. If you go out of your way to avoid the taxman, they will know and they will be swift in their own brand of justice.
How Do You Qualify For Penalty Relief?
With the sheer number of penalties that can be assigned to a person, it can be hard to know which ones qualify for relief. Typically, these eligible claims include penalties that revolve around failing to file a tax return, failing to deposit certain taxes as required, and failing to pay on time. There are some outliers though. Basically, if you’re in the process of knowingly committing a crime, there’s not much that can be done for you. The important thing to keep in mind is that these penalties can be pretty steep. That doesn’t have to be the end of it though. You don’t have to sit idly by as your tax bill slowly climbs with the influx of penalties. By contacting the legal professionals at Benner & Weinkauf, you’ll be giving yourself a good chance at getting out of the negative and back onto your feet.
Don’t Go It Alone
Most penalties are subject to judicial review, so if you were able to prove mitigating circumstances, such as bankruptcy or financial instability, then you’d have a better chance of getting your penalties greatly reduced or even nullified altogether. You shouldn’t go it alone. Whenever you’re dealing with the IRS, it can be easy to find yourself outmatched. That’s why we work tirelessly to get out clients the solutions they need to rid themselves of their tax-related debts. If you or someone you know is facing tax penalties, feel free to reach out and give us a call. We’ll be standing by to offer you our full list of services.