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Tag Archives: Tax Penalty Reduction
Compromise of Tax and Penalty
Lefstein-Suchoff CPA & Associates, LLC has a proven track record of getting our Client’s Offers in Compromise accepted and thereby saving our clients thousands of dollars. If, on the other hand, we believe that filing an Offer in Compromise will … Continue reading
Posted in Offer In Compromise
Tagged Back Taxes, IRS Problem Help, IRS Tax Problems, Tax Penalty Reduction, Tax Problem Solutions
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New 1099-K Forms may Lead to Enhanced IRS Collections
What do you need to know about Form 1099-K? Form 1099-K is an information return that reports payment card and third party network transactions for the calendar year. 1099-K forms are giving IRS new collection leads. A memo to IRS … Continue reading
Posted in IRS Collections
Tagged File Returns, File Tax Return, IRS Problem Help, IRS Tax Problems, Tax Penalty Reduction, Tax Problem Solutions
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IRS Penalties: Part 4 of 4
The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. These penalties are designed to foster compliance. Penalties are generally payable upon notice and demand. Penalties are generally assessed, collected … Continue reading
IRS Penalties: Part 1 of 4
The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion. Penalties are generally payable upon notice and demand. Penalties are generally assessed, collected and paid in the same manner as … Continue reading
IRS Penalty Abatement
The IRS assesses various penalties, including those for late filing of tax returns and late payments of taxes. These penalties effectively punish taxpayers for noncompliance. Fortunately, there are relief provisions that can help eliminate or otherwise reduce penalties that have … Continue reading
IRS Can Now Reduce the Amount of the Frivolous Tax Penalty
Section 6702(d) of the Internal Revenue Code authorizes the Internal Revenue Service (IRS) to reduce the amount of the frivolous tax submission penalty assessed under section 6702(a) or (b) if the IRS determines that a reduction would promote compliance … Continue reading
Posted in Tax Penalties
Tagged Business Tax Relief, Tax Penalty, Tax Penalty Reduction
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