How to Apply For Penalty Abatement of Back Taxes?
Abatement of penalty allows every tax payer an exception in interest for given time period. Following are the legitimate reasons for the application and qualification for penalty suspension:
- A reasonable cause could be your unawareness of the tax law code.
- If a family member died and you were not able to settle your back taxes.
- If you were hospitalized because of a serious illness and you weren’t able to file for an extension.
- You can be issued administrative waivers if you had a hard time following the advice of a legal tax adviser, if a natural disaster hindered you from paying your back taxes, if it’s your first file for taxes, if you were unemployed for several months or if your financial documents got lost or were destroyed.
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