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Penalty Abatement
If you do not pay your taxes in full and on time, the IRS applies penalty and late fees to the amount that you already owe. These penalties are added to your account automatically by a computerized system. Sometimes it is possible to have these fees overturned or refunded by submitting a request for penalty abatement.
In order for a request to be considered, you must have an acceptable reason for falling behind in your taxes, such as a death in the family, a natural disaster, or a long period of unemployment. In addition, you must show the IRS a commitment or plan for repaying your debt.
It is very difficult to prove your eligibility for penalty abatement to the IRS without the help of a tax expert. Tax companies in the DebtHelp network can help you request penalty abatement for your unique circumstances.
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