IRS PENALTY ABATEMENT – HOW TO LEGALLY REDUCE YOUR TAX BILL
If you have unpaid federal taxes past the April 15 deadline, you could be looking at additional penalties and fines on top of your tax bill. The IRS charges hefty penalties for failure to file your taxes by April 15 (Tax Day falls on April 15 most years) or failure to pay your taxes on time.
Fortunately, there is help for taxpayers who failed to meet their tax obligations for payments or filings. The IRS offers a few ways to qualify for penalty abatement, which can shave hundreds of dollars off your tax debt and move you steps closer to financial freedom.