Tax Law | Penalty Abatement

If you have an IRS and/or California Franchise Tax Board (FTB) tax debt, chances are your balance owed includes a hefty amount of penalties. The IRS and FTB offer individuals an opportunity to apply for penalty abatement, which would reduce or remove tax penalties entirely. 

Although penalty abatement cannot clear the entire tax debt you might owe, it can clear the penalties that have been piled on top of that debt. This often overlooked reduction or elimination of penalties could actually make a significant difference in your payments

To qualify for a penalty abatement you must generally show that there were circumstances outside of your control that caused you to not pay taxes. Although penalty abatement may sound simple, it is a convoluted process where the burden of proof for entitlement to relief is on the tax payer. As a result, penalty abatement requests are often turned down when submitted without the proper knowledge, expertise, and skill. 

The Law Offices of Lucy Zheng understand tax law complexities and are experienced in successfully fighting for IRS and/or FTB penalty abatements. Contact us if you believe your tax penalties should be reduced or altogether eliminated, and we will help you fight for it.