State Tax Penalties

When state tax penalties are assessed for late or non-payment of taxes, what seems like a minor inconvenience can quickly turn into a serious problem.

State tax penalties have a tendency to add up over time, and when they do, the total state tax debt can become overwhelming.

For taxpayers who need help navigating the challenges of state tax penalties, Omni Tax Solutions are the people who help people with tax problems.

What Are State Tax Penalties?

A state tax penalty is essentially a punitive fee for not paying your state taxes in full or on time. State tax penalties can also happen when income is under-reported.

Each of the 50 states has its own list of various penalties that can be assessed against individuals and businesses. Exactly how and when state tax penalties are assessed varies from state to state.


State Tax Penalty Information

One of the most shocking realizations most people have regarding state tax penalties is how high they are. A single tax penalty can amount to thousands of dollars in addition to the existing tax debt principal.

If these penalties go unabated and unpaid, they can themselves generate even more penalties, which can compound into a state tax penalty nightmare.

The most important step to take when dealing with state tax penalties is to develop a strategy for resolving the problem directly with the state tax authority. This is where our help can be so beneficial.

Preventing or Fixing State Tax Penalties

Preventing state tax penalties in the first place is a simple proposition: pay your state taxes accurately and on-time.

However, fixing an existing state tax penalty problem is an altogether different issue.

Most taxpayers are able to enter into an Installment Agreement with their state tax authority. And, in some cases, requesting a partial or full abatement of the tax debt may provide some relief.

You don’t have to deal with your state tax penalty problem alone. Omni Tax Solutions is here to help with expert tax resolution guidance and advocacy designed with your financial wellness in mind.

Call us today for a free consultation and to get more information about state tax problems and tax relief. The number is (855) 529-3214.