IRS Penalty Abatement of New Orleans, LA
IRS back tax debt is a lot like the famous New Orleans delicacy, oysters…though not as appealing. Think of the outer shell as your initial back tax debt. It seems somewhat manageable until you crack it open and realize there are a whole slew of IRS tax penalties that go along with it.
When you owe money to the IRS it won’t be long until you see the initial amount rise due to penalties and interest. Tax penalties can be as significant a burden as the underlying tax debt itself and can sometimes go as high as the initial amount if not handled promptly. If IRS tax penalties are causing you great financial distress, New Orleans Pure Tax Resolution offers effective IRS penalty abatement services you can rely on.
Tax penalties exist to encourage taxpayers to follow the law and pay their taxes. Though, if you’re like many Americans you have an outstanding tax debt that has already incurred penalties or will in the future. IRS penalty abatement is a common solution that refers to a reduction of penalties and there are typically five types of tax penalties that may qualify for abatement:
- Accuracy-related penalties
- Penalties for tax fraud
- Penalties for under-payment of tax
- Penalties for filing late or failing to file tax returns
- Combined penalties
Unfortunately, tax penalties are cumulative so it is imperative that you seek help before you become trapped under more back tax debt. The IRS has many ways to collect tax penalties and our New Orleans area clients have come to us seeking assistance for one or more of the following:
Tax Liens
If the IRS files a public tax lien against you or your assets, you will be prevented from disposing your assets until you pay your tax and tax penalties. This may result in the inability to get a job, buy a home/car, finance your children’s education, or even own assets in your name.
IRS Wage Garnishment
The IRS can take your wages directly from your employer to apply towards your past tax obligations. Once your employer has garnished your wages you cannot get the money back.
IRS Notices, Summons and Seizures
The IRS can issue collection letters, notices and summonses to you. These generally come before the other two options.
Pursue IRS Penalty Abatement today!
As time goes on, your tax penalties will continue to accrue. Take a stand by contacting our IRS penalty abatement specialists today. Free consultations: (504) 717-4252