Through expert tax attorney representation, we help bay area taxpayers reduce and settle tax penalties through proven IRS penalty abatement solutions
IRS tax penalties are basically the "insult" to the "injury" of your IRS tax debt. Just like any other tax debt issue that California taxpayers in the bay-area face, to take a step in the right direction you must seek professional tax help ASAP. As time goes on, the tax penalties grow and become more and more detrimental to your personal and financial well-being. Luckily, IRS penalty abatement (tax penalty relief) is a phone call away, and only the IRS penalty abatement specialists at Bay Area Pure Tax can offer a local, and effective solution for California taxpayers struggling with tax penalties.
Jonathan May - Enrolled Agent
Understanding How IRS Penalties Impact You
Accuracy Penalties are broken down into 2 distinct penalties, "Substantial Understatement" penalty and the "Negligence or Disregard of the Rules or Regulations". Substancial Understatement simply applies to taxable income that is underreported. Negligence or Disregard of the Rules or Regulations applies to more complex criteria, but falls under carelessly, recklessly, or purposely engaging in faulty practices when preparing and filing tax returns.
Civil Fraud Penalties
Civil Fraud Penalties constitute any scenario where underpayment of tax was caused by purposeful fraud. In cases of a joint return, the spouse will not be penalized unless fraud involvement can be proven. In addition to tax penalties, civil sanctions and criminal prosecution can be imposed as well.
Estimated Tax-Related Penalties
These penalties typically apply to self-employed workers or contractors, or any form of income that isn't filed as W2 by an employer. These taxpayers instead are required to file estimated tax payments on a quarterly basis, and if they are not paid, underpaid, or paid late, there will be a penalty imposed.
Frivolous Tax Return Penalty
If the IRS identifies information on your tax return as "frivolous", or lacking enough detailed information showing your tax return is correct, you, and your spouse (if filing jointly) will be subject to a penalty as high as $5,000 EACH.
Bounced Check PenaltyPretty self-explanatory, but if a check you write to the IRS bounces, the penalty is either 2 percent of the check amount (for amounts more than $1,250) or, $25 if the check is less than $1,250, whichever is less.
Learn More And Pursue A Tax Penalty Abatement Solution For You
Whether an individual or business with small or large tax debt penalties, we believe the good people of the bay area, California deserve professional and reliable IRS tax penalty abatement. Forget about the uncertainty of working with the faceless IRS penalty abatement services you come across on the TV/Radio, Bay Area Pure Tax Resolution offers FREE consultations, 24 hour availability for clients, flat up-front pricing, and exceptional customer service from start to finish! Call us today and speak directly with our President, Tim Halcomb to pursue a convenient IRS penalty abatement strategy for you!