IRS Collection Abatement Solutions – Call 1-877-658-3477 |
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IRS Collection AbatementIf interest has accrued to IRS errors, the individual taxpayer may be eligible to receive a refund, or collection abatement. An abatement refers to the process by which the taxpayer receives a reprieve from paying their current tax debts, or a reduction in the total amount of tax debt owed. Interest and PenaltiesInterest and penalties represent the most common taxpayer issues when it comes to outstanding tax debts. |
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Penalties accrue when taxes are paid pate or when returns are filed late. Interest accrues on both the total tax owed and the penalties accrued. A taxpayer may be eligible for a collection abatement, specifically for their interest and penalties accrued, when they can show a reasonable cause standard.
Temporary AbatementsIn addition to a complete abatement, taxpayers may be eligible for a temporary abatement. This option is typically granted to those individuals who are experiencing temporary financial hardship. An IRS collection abatement can reduce the total amount owed by the taxpayer, or can provide much needed temporary relief in the event that the terms of the instalment agreement are not being met due to financial hardship.
For more information about your IRS Levy, contact one of our tax professionals
at 1-877-658-3477. |
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