Your Ultimate Guide to Tax Penalty Abatement Program
Even though there is no negligent on your part for the failure to comply with your tax liabilities, you will still be charged with penalties and this is one of the greatest problems for most taxpayers these days. However, there is no need for you to worry about this problem anymore because if your reason is valid enough, there could be a possibility that your tax penalties will be waived. These days, there is this tax program wherein taxpayers that are charged with penalties can still get relief and this tax program is only available for those who have valid reasons for not being able to comply with their tax liabilities.
Yet the provisions strictly provide for certain qualifications in order for you to get relief from penalties. There are only three circumstances in which you will be eligible for the tax abatement program and these include failure to pay your tax on time due to a valid excuse. You can also avail this tax program if you have failed to file your very own tax return for a certain year also with a valid excuse provided by the law. You can also avail this tax program as a relief when you have failed to deposit your tax as provided by the law.
There are also certain reasonable causes in which you can validly raise on your favor and these are the grounds that you can use for claiming relief from tax penalties. One of the accepted reasonable causes for relied is any type of fortuitous events such as a natural disaster, fire, serious disturbance, and casualty. These are among the strongest reasonable grounds that you can claim in order for you to get relief from penalties. However, you must also provide good evidence in order for you to qualify for relief from a penalty with the use of this reasonable cause.
When you are also unable to settle your tax liabilities due to a serious illness, incapacitation and death of someone from your immediate family, you can also make sure that you will also get relief from penalty. Inability due to grievances can also be excused and used as a defense to help you exempt yourself from tax penalties. When it is also your intent to comply with your tax liabilities but you are unable to obtain your records to complete such act, you will also be entitled to avail this tax program. If you want to learn more about this tax program and all the other important considerations you need to take note of when filing for relief, discover more in this page now!