1-800-548-4639While IRS penalties can seem arbitrary to taxpayers, the IRS policy is clear and deliberate on their reason for existence: to deter taxpayer noncompliance, not to generate revenue. However, that doesn’t help much when you find yourself in a situation where the IRS has tacked on additional penalties simply because you failed to file or pay your taxes due to a legitimate reason. A recent client of BC Tax found themselves in this exact situation. They failed to file and pay taxes on 2 separate tax return periods which meant that the IRS added over $8,450.00 in penalties to the original amount they owed. With the expert help and experience of our tax professionals here at BC Tax, we were able to work with the IRS agents assigned to this case and remove the penalties which saved the client the full amount of just over $8,450.00. It is the countless hours of experience and years of knowledge our tax professionals have that allow us to help clients in these situations. If you find yourself in a similar situation, please reach out to us as soon as possible.
Authored by the BC Tax Insights Team, this article reflects the collective expertise and experience of our seasoned tax professionals. The Insights Team at BC Tax comprises specialists with a deep understanding of various tax scenarios and solutions. With a focus on providing informative, accurate, and practical insights, our goal is to guide readers through the complexities of taxation and financial planning. Every piece is crafted with the intent to help individuals and businesses navigate the ever-evolving world of taxes, ensuring clarity and confidence in decision-making.
