Tax Solutions An Abatement can be very beneficial if you can provide an adequate reason as to why you were not able to pay your taxes or were unable to file your taxes. An Abatement not only wipes out your penalties but also helps you reduce your back taxes. There are three ways to present your case to the IRS resulting in abatement; You can provide the IRS with a written statement of a few paragraphs explaining your case, you can set up a verbal interview with the IRS or you can simply provide an 843 form which provides a shortened statement of your case (http://www.irs.gov/pub/irs-pdf/f843.pdf). Whichever option suits you best, it is not to be taken in your own hands. These procedures are far too complicated for the average person to combat. You will require professional assistance. There are certain guidelines and wording that you need to use when it comes to dealing with the IRS. Only experts are able to deal with these matters.
Did you make any efforts to fix the problem? If you notified the IRS immediately of the reason why you were unable to pay, it will help tremendously. Did you try to pay a smaller amount that you could actually afford? Documentation is your best proof. You need to explain what went wrong through paper and documents. There are several instances in which abatement is provided often:
- If your records were destroyed and it was not in your control
- If a natural disaster damaged your ability to pay taxes & make money
- If your business was the victim of a crime
- Theft which caused loss of your records
- Prolonged unemployment
Either way, you need to contact JG Tax Group and explain your situation. The faster you call, the faster we can take the necessary steps to get these penalties eliminated and get you back on your feet.
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