Free Info – Killer Penalties And Interest
The secrets are already listed on the topic pages of the site or under the “free advice” tab.
One secret is to know right away that the IRS doesn’t negotiate interest. I’m sure there are exceptions, but unless the related tax liability is reduced or the IRS agrees they delayed your refund, I don’t think it will happen. Another secret is that if you have only one year that you owe penalties for, it won’t take much effort for you to have them removed for “reasonable cause”. Just look up the rules and call ACS at the IRS and they can take it off over the phone. Often it’s better to wait till the liability is fully paid so they will remove the total penalties. There are ways to draft removal requests when there is more than one year owing and have it considered like it was just one. I’ve gotten penalties off that way in the past. Another secret is to know that if you owe for several years, you can scream hardship and bad health all you want, but the IRS really doesn’t want to remove your penalties. Any request must contain a lot of documentation and pretty exact proof under the IRS penalty handbook rules.
Don’t forget to read all the related topic pages on this site for more valuable information gathered over many years of case experience.
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