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Video instructions and help with filling out and completing Are Form 843 Erased

Instructions and Help about Are Form 843 Erased

IRS penalties can add up quickly more so because if tax liabilities remain unpaid not only does the IRS tack on penalties but they also attack on interest on top of those penalties fortunately if your IRS defense lawyer is successful in obtaining a penalty abatement and the tax penalties are removed the interest on those penalties will be removed as well this is not to be confused with interest on the tax liability itself interest in that situation is statutorily assessed and not subject to abatement except under much more limited circumstances that I will address later on in this video but interest on penalties are different and can be erased and if the penalties disappear then there's no foundation on which the interest can accrue let's review the steps to request IRS penalty abatement the first step is to request from the revenue officer the pin X form pin X stands for penalty and interest notice explanations and will show where tax penalties and interest have been assessed this will give you IRS defense lawyer the ability to review the circumstances under which penalties have been assessed by the IRS and give the IRS lawyer the ability to examine which of those should be subject of an IRS penalty abatement request where the IRS penalty assessments may have been wrongly assessed or were any funds to be given to the IRS should be applied to best suit you the taxpayer your IRS tax lawyer will also ask you to explain what was going on in your life when these tax penalties were assessed the reason for these personal questions is the IRS defense attorney is looking to make a reasonable cause argument to the IRS for why penalty should be abated there are two types of penalty abatement...