The IRS Tax Season comprises a period of time for United States citizens to send their Tax Return and thus comply with their obligation as taxpayers. But it is true that sometimes we may find that we do not send all the documentation on time or we make a different mistake with respect to the Tax Return.
For that reason, the IRS may send us a penalty that we must pay. But we could apply to have this penalty reduced or even eliminated if we know how to do it. Requesting it does not imply being able to do it 100%, but there is the possibility of not having the penalty, so it could finally be good news or, at least, not the worst news of the year.
Can I reduce or eliminate an IRS penalty?
The truth is that from the official IRS website itself the information we have about it is very clear. It is possible to request the elimination or reduction of the fine as long as we argue and show that we have acted in good faith, in addition to showing the reasons why we have not sent our Tax Return on time.
In that case, the IRS will study our situation to determine if we were finally not in the best time to be able to comply with our tax related obligations. If that is the case, then we would have our penalty eliminated and we would go on to not pay the interest created by this situation.
Although it is true that the best way to avoid having to reduce or eliminate a fine is to avoid getting it. And for that there are certain tips that we can follow. If we follow them, we will avoid having to pay more taxes to the IRS.
How to avoid IRS penalties?
First of all, we have to always send all the documentation on time. Only in this way we could avoid this situation, but it is not the only way we can avoid this. There are more reasons why the IRS could fine us, so we have to keep in mind that:
- We should not send the Tax Return out of time.
- We must pay all the taxes.
- We should not make mistakes when sending the documentation.
With these three elements in mind we should not have problems with the IRS nor should we get any kind of penalty. So if we avoid all of this, we will avoid having to pay any payments on our taxes.
