Venice Penalty Abatement Attorney

Venice Penalty Abatement Lawyer

Taxpayers are required to make their payments to the Internal Revenue Service (IRS) and the Florida Department of Revenue (DOR) on time and accurately. If you fail to meet these responsibilities, the agencies can assess penalties for failure to file or inaccuracy. This can be especially frustrating when something outside of your control prevents you from meeting your responsibilities. A Venice penalty abatement attorney can help you through your options.

Hire a Penalty Abatement Attorney at TaxSmith, LLC

It’s possible to remove certain penalties because you have a good history of tax compliance or because you were prevented from meeting your obligations. At TaxSmith, LLC, we can determine if penalty abatement is the right way to address your tax debt. If you have ignored penalties from the IRS or DOR, those fees do not go away. Instead, they may continue being assessed in some cases and accrue interest. This can significantly worsen your tax debt.

At TaxSmith, LLC, we have served taxpayers in Florida for over a decade, helping businesses and individuals navigate complex tax issues. We listen to your unique situation and consider your financial circumstances.

Our firm can represent you to the IRS and find the right solution for your tax debt issues. The nearest IRS Taxpayer Assistance Center Office to Venice is in Sarasota, located less than 14 miles from the city center of Venice at 5971 Cattle Ridge Boulevard, and we have experience dealing with these offices.

What Is Penalty Abatement?

Penalty abatement allows taxpayers to remove penalties from their tax debt for specific reasons, as well as the interest accrued by those penalties. The IRS is willing to work with taxpayers and helped almost 62.2 million taxpayers in fiscal year (FY) 2024. This includes being willing to negotiate with taxpayers who don’t have the financial ability to pay their full tax liability.

For some taxpayers, penalty abatement can substantially lower their overall tax debt and make paying it back more manageable. The main reasons for penalty abatement through the IRS include:

1. First-time penalty abatement: This type of abatement may apply to specific penalties in one tax filing year if you have a good history of compliance when filing your taxes and have not been assessed any non-abated penalties in a set period.
2. Reasonable cause penalty abatement: This applies to certain penalties over one of multiple tax filing years, if something prevented you from meeting your tax obligations even though you tried to meet them. It is often something outside of your control, such as an illness or civil disturbance.

You should never ignore penalties, especially when you have failed to file your taxes at all. Not only can this increase the severity of your tax debt, but it could eventually lead to criminal charges if the IRS suspects you of committing tax evasion. In FY 2024, the IRS assessed over 50.7 million civil penalties and initiated 2,667 criminal investigations.

Why Do You Need a Penalty Abatement Attorney?

When you hire a penalty abatement attorney in Venice, you are more likely to successfully abate penalties and lower the debt you owe with less stress. A penalty abatement attorney also likely has experience in other types of IRS debt settlement. They can review your financial situation and the debt you owe to determine what debt settlement is most useful for you.

When penalty abatement is the most useful, your attorney can help with each part of the process. They help you gather proof of reasonable cause, call the IRS on your behalf, or help you submit the form.

They gather the right documents to make a strong case. For example, if you were assessed an information accuracy-related penalty because the information you needed was lost in a fire, you would need to show proof that this occurred. An attorney helps you get whatever is needed to prove your reasonable cause. This makes your case more likely to get approved. If it isn’t, your attorney can help you through the appeals process.

FAQs About Venice, FL Penalty Abatement Law

What Does Reasonable Cause for Penalty Abatement Mean?

Reasonable cause for penalty abatement means a sound explanation of why you failed to comply. If you are facing information accuracy penalties, the IRS requires proof that you tried to act responsibly, but the information was wrong because of your inability to access records or the actions of an IRS agent. For a failure to file penalty, the IRS likely requires proof of a natural disaster, a serious illness, or an unavoidable absence.

What Is the Cost of Most Tax Lawyers for Penalty Abatement Cases?

The cost of a tax lawyer for penalty abatement cases depends on their experience in tax laws, the complexity of your penalty abatement case, and other factors. Always talk with an attorney up front about their fees. Tax lawyers might charge an hourly rate or a flat fee, depending on your case. Be sure the attorney has the qualifications to talk with the IRS or Florida DOR on your behalf.

Do Normal People Go to Jail for Tax Evasion?

Yes, normal people can go to jail for tax evasion. However, criminal charges are rarely the first step the IRS takes for unfiled taxes. Typically, you can face financial penalties and potentially collection actions like liens or wage garnishment. If you fail to pay taxes for several years and the IRS suspects you are willfully avoiding your tax responsibility, you could face criminal charges for tax evasion, which can include jail time.

How Do You Write a Penalty Abatement Reasonable Cause Letter to the IRS?

When you file a form with the IRS requesting penalty abatement for reasonable cause, you have to provide documentation that proves the basis for reasonable cause. You list what penalty or penalties you would like removed and why your reasonable cause prevented you from meeting your obligations. A penalty abatement attorney can help you write a letter and find the necessary documentation to prove it.

Contact Venice Penalty Abatement Lawyer

When you have tax debt that you owe the IRS or the DOR, we may be able to help you limit how much you owe through penalty abatement. Reach out to TaxSmith, LLC today and let us help.

Venice, FL Penalty Abatement Law Additional Resources:

Tax Liens in Florida

• How to Remove a Tax Lien in Florida
• Federal Tax Lien Statute of Limitations in Florida
• How Long Does a Tax Lien Last in Florida?

Tax Debt & IRS Issues in Florida

• How to Get Out of Tax Debt in Florida
• Can a Tax Attorney Negotiate with the IRS to Resolve Tax Debt Issues in Florida?
• IRS Offer in Compromise in Florida
• How to Negotiate a Tax Debt Settlement with the IRS in Florida
• Tax Settlement Options for Florida Residents