A taxpayer in Forest City, North Carolina hired Timberline Tax Group to navigate the removal of an Accuracy Related Penalty on their Individual Income Tax Return dating back to 2013, in the amount of $117,543.70. Through thorough research of the Internal Revenue Manual and relevant court cases, the Enrolled Agent was able to abate
An advertising business in Pennsylvania hired Timberline for overall protection, account representation, and penalty removal. The Associate assigned to the case immediately obtained a 60-day hold on enforcement. This strategy allowed the Associate time to analyze our client’s financial documentation and then to determine the most appropriate resolution. It was found that the
An industrial business in Grand Rapids, Michigan hired Timberline to represent it for its IRS liability issues. The Enrolled Agent was able to quickly negotiate a standard payment plan on the account to ensure full compliance and protection. Once completed, the attention turned to the $18, 594.35 in assessed penalties. After months of negotiation
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
An excavating business located in Indianapolis hired Timberline for overall account protection and resolution. The Associate began reviewing the account information and negotiated a hold from enforced collection action from the Revenue Officer. It was found that the business was assessed Civil Penalties due to not filing W2 forms in 2014. The Associate submitted
The Internal Revenue Service will assess penalties on the account for a failing to file a tax return, failing to pay tax on a return, failing to pay unreported tax, failing to remit Estimated Tax Payments (individuals) and Federal Tax Deposits (businesses), and if a payment comes back as dishonored. The Following is a breakdown
What is an IRS penalty abatement letter? This is a written request that is submitted to the IRS in an attempt to reduce or remove the tax penalties that have been assessed to an account. What is an IRS penalty abatement reasonable cause letter? This is a formal request for the
No matter the circumstance or the financial condition of the taxpayer, if a federal tax balance is accumulated, IRS penalties and interest will be imposed to the period in which tax is accrued. This is inevitable and unavoidable in the majority of circumstances. Most Common Penalties Failure to Pay (FTP) (IRC 6651):
