What is a Penalty Abatement?
A Penalty Abatement is a reduction of the penalties charged by the IRS when certain criteria are met. A successful penalty abatement results in a lower overall liability, which can help you overcome your tax issue quicker.
Individuals and businesses may qualify for a Penalty Abatement. A penalty abatement request is more successful when you show that you have become compliant with your current tax obligations and have taken steps to resolve the outstanding tax liability. It takes a significant amount of time for the IRS to review and process a penalty abatement request, resulting in months passing before you receive a response. You have appeal rights if your initial request is denied.