Irs abatement Stop irs wage garnishment Tax penalties

IRS Tax Penalties and Abatement Methods

Irs abatement

When the Civil War broke out, Congress enacted the first income tax in 1862, which was ended after the war. One constitutional amendment later, income taxes have become a permanent fixture of the U.S. Many want back tax relief, but do not understand how they evaded taxes or what penalties they need back tax relief from. Below is a description of common penalties, as well as solutions that may result in back tax relief.

To understand what needs back tax relief, one must understand the agency responsible for these penalties, and how they help wit.h back taxes. The Internal Revenue Service, or IRS, is the agency responsible for collecting taxes and administering penalties. This has been their function for a long time.

A common type of IRS penalty is IRS garnishment of wages. Wage garnishments are when an employer is compelled to divert a portion of the paycheck to the IRS. There are ways to stop irs wage garnishments, which are discussed below. Another penalty is a tax lien, which is a seizure of an asset until the IRS has back tax relief. In both cases, the IRS may misapply penalties due to misunderstanding of either law or facts.

There are at least two ways to seek back taxes help. One way of seeking tax debt relief is tax penalty abatement, or easement. This is the most common way to seek back tax relief. Another way to seek help with back taxes is an offer in compromise, or OIC. OIC is when a taxpayer pays the IRS in installments for a portion of the liability, and the IRS could write down the rest. Of course, OIC applicants must show they have a doubt as to liability, doubt as to tax administration, or doubt as to collectibility to qualify for an OIC. In short, there are many ways to seek back tax relief through the IRS itself. Check out this website for more.

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