How One Man Reduced His Tax Bill By $180,000….
A new client came to me with a serious problem: He hadn’t filed personal income tax returns for the last 15 years, and the IRS had just sent him a bill for $330,000.
The IRS made a guess as to what he should owe, then doubled the bill with penalties. With careful attention to detail, I was able to file 9 of those 15 years with favorable tax returns, negotiate a $30,000 reduction in the penalties, and establish an affordable monthly payment plan on the remaining balance. In all, this client saved $180,000 by seeking professional representation for his IRS problem.
IRS penalties can add up to 65% of your total bill to the government. Obtaining relief from these penalties can make an incredible difference in your ability to resolve your tax liability.
The IRS penalty reduction process, called a penalty abatement, has very strict criteria. Before applying for penalty forgiveness, you must ensure that you meet reasonable cause criteria. Then, you must format your application letter in a particular way in order to maximize your chances of success with the IRS.
With our Penalty Abatement Sample Letter Kit, you’ll not only have the guide you need for submitting a successful application, but example letters that you can use to write your own application. Learn more about the Penalty Abatement Sample Letter Kit.