Penalty Abatement

The IRS generally rejects most penalty abatement requests, however if there were certain conditions beyond your control which barred you from paying your taxes, the IRS may remove interest and penalties on your tax debt and allow you to only payoff the principle amount.

For example:  Taxpayer was suffering from a medical condition and could not pay his taxes during his treatment.  Several years have gone by and the interest and penalties are now more than $7,000 for a debt of $24,000.  The IRS removes the $7,000, and his debt is reduced to $17,000.  This debt can then be negotiated into an installment agreement for less than $500 per month.

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