How to Negotiate IRS Penalties After Filing Taxes Late
If you’ve missed your tax filing deadline, it’s not the end of the road. Small businesses can negotiate with the IRS to reduce penalties and manage their tax burden.
Steps to negotiate IRS penalties:
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File Your Return Immediately: Stop penalty accrual by filing as soon as possible.
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Request Penalty Abatement: You can ask for forgiveness due to reasonable cause like illness or natural disaster.
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Set Up a Payment Plan: Spread out payments to reduce immediate financial stress.
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Offer in Compromise: In cases of hardship, negotiate to pay less than owed.
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Get Professional Help: A business tax consultant can navigate negotiations and paperwork.
Negotiating effectively requires knowledge and persistence—but it can save your business significant money.
Facing penalties? Let BizTax Strategy assist you in resolving Late Tax Filing issues with the IRS.
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