3 Types of IRS Penalty Relief You Can Qualify For Through The Fresh Start Program

Did you know that the Fresh Start Program can help you qualify for penalty relief? 

In fact, there are three different types of penalty relief options that you can qualify for. So don’t make the mistake and pay the IRS if you can qualify for penalty relief.

Penalty Relief options offered by Fresh Start Program:

Reasonable Cause:

This is a form of penalty relief provided when the taxpayer can prove an event or circumstance beyond their control that led to the failure to comply with IRS rules. The taxpayer must provide evidence of this event, as well as an explanation of why it prevented them from meeting their obligations.

A reasonable event could be if an individual had a reasonable cause for not filing or paying taxes on time (such as illness or other circumstances beyond their control), then the IRS can waive or reduce the associated penalties. In some cases, natural disasters or financial hardship can also be reasons for penalty relief. 


First-Time Penalty Abatement:

Taxpayers can qualify for this if they have not been previously charged penalties by the IRS. This form of relief waives the penalty amount due and allows taxpayers to pay back any due taxes without paying the additional penalties.

The Statutory Exception:

This applies when specific criteria are met by a taxpayer. These criteria include situations where taxpayers were unable to obtain advice from tax professionals, or other situations that would influence the taxpayer’s ability to comply with the IRS rules. If these criteria are met, taxpayers can qualify for the Fresh Start Program and get their penalties waived.

Why does the IRS offer penalty relief?

The IRS offers penalty relief to people who have difficulty paying taxes due to unavoidable situations. 
By offering penalty relief, the IRS helps taxpayers meet their financial obligations without incurring additional costs. Moreover, this allows taxpayers to avoid legal action and resulting interest charges if they are able to resolve their tax debt in a timely manner. 

How do I know which one is right for me?

Our team of experts will be able to determine which penalty relief offer you qualify for. 
Keep in mind, the IRS can charge up to 25% in penalties of your overall tax debt. 
Qualifying for the Fresh Start Program can help you save thousands and we offer a free tax consultation

The takeaway

If you’re tired of being stuck in tax debt, sign up for your free tax consultation. From this call, you’ll be able to determine if you qualify for our services and which tax relief program will work best for your unique situation. 
TaxRise has helped thousands of taxpayers just like you resolve their tax issues and erase their tax liability. Book your call and get started today!


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