IRS Tax Penalty Abatement for Houston Taxpayers
We help taxpayers of Houston and Harris County reduce or even eliminate tax penalties as a result of outstanding tax debt
IRS tax penalties and interest are a harsh reality for many Houston-area individuals and businesses with outstanding tax debt. Just when you thought owing delinquent taxes was stressful enough, the IRS exercises accruing tax penalties and interest in addition, and it will continue to grow out of control if not addressed promptly and properly. If you are a taxpayer of Houston or any surrounding community of Harris County looking for professional solutions for IRS tax penalties, we invite you to contact us to discuss your options for IRS penalty abatement (penalty settlement). By pursuing the proper channels for IRS penalty abatement, you are taking the right steps to reduce or even eliminate your tax penalties and interest as a result of your delinquent tax debt.
How IRS Tax Penalties Affect You
There are over 140 individual IRS tax penalties that can be enforced against Houston taxpayers. These penalties tend to fall within 5 general categories:
- Accuracy Penalties
- Fraud Penalties
- Underpayment Penalties
- Late Filing/Failure to File
- Combined Penalties
One of the more harshest (and easily avoidable) penalties imposed by the IRS is the "failure to file" penalty. So we can't stress enough that at the very least you should always file your taxes on time, regardless if you lack the money to pay the taxes you may owe. The “failure to file” penalty begins at 5% of the amount of tax owed the day after a tax return is due, and can reach as much as 25% of the total tax due after 5 months. Of course, the penalties for fraud are relatively severe, reaching up to 15% per month, with a maximum tax penalty of 75% of the amount of tax debt owed. In the more extreme cases where multiple penalties are imposed against a taxpayer and they aren't addressed in time, the IRS will exercise collections and even criminal investigations against the taxpayer. Just like any other IRS tax problem, time is of the essence and the sooner you take action to pursue IRS penalty abatement, the easier the road will be to resolving and avoiding them moving forward.
Explore your options for IRS penalty Abatement today
When you combine IRS back taxes with penalties and interest, in addition to ignoring them for an extended period of time, you are only adding fuel to the fire. Before you let your tax problems spiral out of control, you can take a fast and effective approach to settling your tax penalties by consulting our tax penalty abatement specialists. Contact us today for a free consultation with our President, Tim Halcomb, and take back your financial future.
The Houston Pure Tax Relief team