IRS Penalty Relief - Its Really Possible

According to the IRS, you may qualify for relief from penalties if you made an effort to comply with the requirements of the law, but were unable to meet your tax obligations, due to circumstances beyond your control.

If you received a notice, be sure to check that the information in your notice is correct. If you can resolve an issue in your notice, a penalty might not be applicable.

Some penalties eligible for relief include failing to file a tax return, failing to pay taxes on time and failing to pay estimated taxes when required to do so. Penalties can be steep and they add up quickly. So, its in your best interest to respond quickly if you receive a notice of penalty from the IRS and consult with a qualified tax professional if you feel that you may be entitled to relief but don't know how to go about working with the IRS to request penalty relief.