If you file your tax returns late or don’t pay the IRS the full amount you owe, the consequences can be dire. Although missing a payment or ignoring your tax debts might seem like a minor issue, the IRS takes this very seriously. Almost immediately, you’ll be hit hard with tax penalties and interest charges that can send your debt spiraling out of control. IRS tax penalties are no joke, so if you want to make certain that your tax debt doesn’t become unmanageable, call on Taxation Solutions, Inc. for help with penalty abatement strategies. Serving taxpayers in the Indianapolis area, we’re the tax pros you can depend on for assistance removing or reducing IRS penalties. We’re ready to put our 40+ years of combined experience to work for you, so don’t hesitate to contact us for help!
IRS Tax Penalties
You can turn to the tax experts at Taxation Solutions, Inc. if you’re facing:
- An IRS tax penalty: When you’re dealing with unpaid taxes, the tax authorities will charge you IRS tax penalties. Over time, this can add up to a considerable amount, and you may find yourself unable to deal with it. However, if you have a valid reason for not filing or paying your taxes on time, you might be eligible for IRS penalty abatement. Taxation Solutions, Inc. can assess your eligibility and help you file the necessary paperwork to plead your case to reduce or remove your penalties.
- Wage garnishment: When you fail to demonstrate willingness to repay your tax debt, the IRS has the right to garnish your wages directly from your paycheck. This IRS penalty can cause a real financial hardship for you and your family, as you may find it difficult to pay your bills without that portion of your pay. Fortunately, you can count on Taxation Solutions, Inc. to help you file to stop IRS garnishment and negotiate an alternate repayment plan. We may be able to help you secure an IRS installment agreement or another tax settlement option to make the hardship of paying back taxes less difficult for you.
- An IRS tax lien: Tax liens are essentially holds that the IRS places on your assets, including bank accounts and property, in case you fail to pay what you owe. While tax liens don’t result in the seizure of your assets, they are a matter of public record, and that means that you can find it difficult to obtain loans, make large purchases, or open new bank accounts when you have them on your record. If you’ve received notice of an IRS tax lien, you can count on Taxation Solutions, Inc. to help secure an IRS installment payment plan or other tax settlement.
- An IRS tax levy: One of the most serious IRS penalties you can face, a tax levy allows the government to seize your assets to cover what you owe in taxes. If you’ve received notice of an impending tax levy, call Taxation Solutions, Inc. immediately. We’ll work quickly to come up with a solution that will allow you to keep your assets and deal with your tax issues.
No matter which form of IRS penalty you’re facing, Taxation Solutions, Inc. can help you figure out a solution. Most forms of tax abatement include an alternate plan for repayment, and you may have some difficulty negotiating for the right tax settlement. Working with an experienced tax firm like Taxation Solutions, Inc. to secure an IRS installment agreement or offer in compromise will give you a much better chance at getting the settlement you want. We’re licensed, insured, and affiliated with ASTPS, which means you can trust us to know the best way to proceed in your specific situation.
For more information about IRS penalty abatement and how we might be able to help you resolve your tax issues in Indianapolis, get in touch with Taxation Solutions, Inc. today!