Remove Tax Penalties with Professional Help

When the IRS believes you’ve made a mistake with your income taxes or it discovers you haven’t filed your taxes at all, it will assess a penalty and interest charges. If you’ve received a notice indicating that you owe a penalty, do not ignore it. Ignoring tax notices can result in wage garnishment, asset seizure and other extremely undesirable consequences.

How Much Tax Debt Do You Have?If the IRS or another tax authority has assessed a penalty for nonpayment or underpayment of taxes, call BC Tax. We help clients across Denver, the state of Colorado and the U.S. with IRS penalties and tax abatement of penalties. We can negotiate with the IRS on your behalf and request a tax penalty abatement.

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First-Time IRS Penalty Abatement

The IRS or other tax authorities can assess a penalty for a variety of reasons. These reasons include failing to file, failing to file on time without an extension and failing to pay income taxes on time. The good news is that the First Time Penalty Abatement policy can help you avoid paying this fee.

Here’s how first-time penalty abatement works. With every day that passes without you paying your penalty, the IRS will increase its amount until you pay your bill in full. But if you meet certain qualifications — such as making a payment arrangement — or you haven’t owed a penalty in the prior three years, the IRS may waive your penalty.

If you’re unsure whether or not your penalty qualifies for abatement, keep in mind that you may qualify based on Reasonable Cause.

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What Is Reasonable Cause for Penalty Abatement?

If you don’t qualify for the First Time Penalty Abatement program, you may get penalty relief in other ways, such as Reasonable Cause. If you have a valid reason for failing to file a return or make a tax deposit, the IRS will waive the penalty.

Common situations that qualify for Reasonable Cause include death, serious illness, natural disaster, fire and the inability to obtain necessary documentation. The IRS may also accept other reasons not listed here that prove you acted responsibly and were unable to file or pay for reasons beyond your control.

The IRS will look for proof that you were unable to meet your tax filing or payment obligations. They’ll want to know what happened and where, how events affected your ability to meet other daily responsibilities and how you handled your affairs once you realized you couldn’t meet your obligations. You should expect to provide documentation such as court records or a letter from a physician confirming incapacitation.

Reaching out to BC Tax as soon as you have a problem will help you minimize or eliminate penalties and associated interest.

Will the IRS Abate Interest Charges?

Yes and no. The IRS will not abate interest charges on your unpaid back tax balance, but it may reduce or eliminate interest associated with the penalty. It’s important to remember that the IRS will continue to accrue interest until your tax bill is paid in full.

Turn to BC Tax for IRS Underpayment Help in Colorado and Beyond

Do you need tax abatement help? Need to reduce your penalties? BC Tax has helped individuals and businesses in Denver, Colorado and across the country win IRS tax penalty abatement from federal and state tax authorities. If you’ve received a notice from the IRS or your state tax authority, don’t ignore it — call us instead. We’re ready to serve you.

“One of the biggest reasons I started looking for tax resolutions is because I thought I was paying way more than I should in past taxes. I spoke with one of the staff members at BC Tax, and he said that they could look over all of my documents and tell me what my options were. When I finally decided to let them do that, they were able to significantly reduce my debt, get rid of my penalties, and set up a payment plan I could keep up with. This is now definitely a step in the right direction.”

– C.F. , Texas

Get in touch with us by calling (800) 548-4639 or by filling out our online form.

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Renee Star

00:48 24 Jul 24

Hire these people if you owe the IRS or Colorado money ASAP. They got me out of a lot of trouble fast. Reasonable price for a quality service.... They’ll help you spread payments out over years and get the balance knocked down considerably. Wish i knew about this a lot sooner.read more

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chuck gaetano

18:13 18 Jul 24

2021 My taxes were a nightmare. I hired a firm that did more Damage than good. I got a call from Dan from BC Tax , LLC . He has been working to help... me . I owed over $ 40,000 . I am a Vet . I have been out of work for 2 yrs . I have Zero income and waiting results from SS . Dan knows his job well . Not to mention he assured me we will get this done in a timely manner. I finally got the help I needed . I see Advertising for tax relief EVERYWHERE!!!!! Most are scams . BC Tax ,LLC is Not a scam . I recommend it to Any and all vets . Dan is your man . SFMF 👍. I stressed over this WAY to long ! Thanx Again Dan. I guess I spoke to soon . I got absolutely no where with this firm another $1,000 gone with NOTHING to show .read more

How To Reduce Tax Penalties

First-Time IRS Penalty Abatement

What Is Reasonable Cause for Penalty Abatement?

Will the IRS Abate Interest Charges?

Turn to BC Tax for IRS Underpayment Help in Colorado and Beyond

Get Help Today

See What Others Are Saying About BC Tax

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