Taxpayers are penalized if taxes are paid laid, if they underpay, or if other situations apply concerning the taxes paid into the federal government. A penalty is assessed for any violations, but penalty relief is also available. To qualify for penalty relief, you must apply for the special pardon. There are four types of penalty relief you may qualify to use.

Documented IRS Errors

If the mistake was made due to errors made by the IRS, you may be able to obtain relief for the penalties that you incurred as a result.

Reasonable Cause Penalty Relief

If your failure to pay wasn’t done deliberately, the IRS Reasonable Cause Penalty may be available. The IRS may choose to waive all of the penalty or a portion of the penalty. If a taxpayer’s record is destroyed there is a better approval odd.

Administrative Waivers

If you’ve never been late filing taxes and have an otherwise spotless record with the IRS but find yourself unable to pay the monies owed, the IRS may provide taxpayers with an administrative waiver. People with low incomes are usually approved for this waiver.

Statutory Exceptions

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If you’ve suffered a disability, have retired, or have a family member in the armed forces who is in a combat zone, you may face many challenges that the IRS is willing to waive penalties when you’ve made errors or paid late.

The Last Word

If you’ve used professional tax preparation services hackettstown nj, it is this person whom the IRS will target after a mishap occurs. Nonetheless, it is still your responsibility to pay the fines and dues after a mishap. The waivers above are a few exceptions to the rule that may be of help in your time of need with Uncle Sam.