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IRS PENALTY ABATEMENT

 

An advertising company in Texas hired Timberline Tax for overall account representation and to look at the potential removal of assessed penalties. The taxpayer had been on and off of a payment plan and the Revenue Officer was getting tired of the back and forth. The Enrolled Agent was able to go in and review the account information both on the Internal Revenue Service side of things and the financial analysis of the business.  While negotiations took place, the Associate and team worked up a package of information pertaining to these particular penalties and provided proof of the hardships during those periods. The Penalty Abatement Request was partially approved by the Internal Revenue Service and removed a total of $1,130.53 from the account! Shortly thereafter, an Installment Agreement was initiated to address the remaining liabilities.

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