Millions of Americans face tax difficulties on a yearly basis, and as a result, they fall back on their taxes. They then have to face the consequences of penalties, back taxes, and interests. Anytime you fail to file your Riverside taxes on the required deadline, and you will end up having paid more than the taxes you ought to pay. If you would like to get your penalties and interests decreased or removed, you need to know the facts that will help you get tax relief.
Getting Tax Relief is Possible, Never Simple
While you can negotiate for tax relief from the penalties and interest, the Internal Revenue Service (IRS) agent that is handling your care has the authority to determine your case. You also need to know that getting your taxes reduced or eliminated is a protracted process that can last a year or two. There is no easy approach to remedy your tax situation. Under the right circumstances, there are five fundamental grounds upon which the IRS can consider decreasing or removing your taxes. Nonetheless, as a general rule, qualifying for tax relief happens under stringent conditions. To get your taxes waived or reduced, you need to hire an IRS tax attorney or consultant to argue your case before the IRS using the best possible approach.
Relief Due to Reasonable Cause
You can present your case to the IRS for relief on the basis of reasonable cause. You will have to present all the facts and circumstances to prove to the IRS that you made all attempts to meet your tax obligations. You need to prove that the circumstances were beyond your control making it impossible for you to meet your tax obligations. If you failed to file returns, make a deposit or pay Riverside taxes before the deadline, is it because you could not due to natural disasters, fire, or casualty? Were you unable to get records or due to death, critical illness, incapacitation, or absence that cannot be avoided by you, the taxpayer, or one of your immediate family members?
The First Time Abatement Waiver
If you have been meeting your tax obligations faithfully for the last three years, you could qualify for an administrative waiver through what is known as a First Time Abatement Waiver. If you happen to have financial difficulties and the IRS has charged you tax penalties, you can seek for the first-time tax penalty abatement.
Amending IRS Errors
Just as the name suggests, the IRS can sometimes make mistakes. If this is the case, you can get a waiver from the penalty that they placed on your taxes as a result of their mistakes. It is not as simple as it seems because you need to prove to the IRS that they have made a mistake.
IRS Administrative Waiver
The IRS can sometimes decide to make waivers based on administrative factors. In such a case, they will waive any penalties that they would ordinarily impose on all the people covered by that policy. The IRS usually announces this through policy statements or press releases. As an example, sometimes the IRS might be delayed in printing forms or publishing mandatory procedures unintentionally. In such cases, they will issue an administrative waiver.
Statutory waivers are generally authorized by law. If you are unable to make a return on your Riverside taxes because of a Presidential decree, you will get a statutory waiver.