Failure to submit payroll taxes to the IRS can result in penalties against you and your business. If you have a valid reason as to why the taxes were not paid, the federal agency may consider waiving or reducing your penalties. With the guidance of your tax attorney, you can try to get your penalties abated. There are a few different ways to go about this: by showing reasonable cause for why the taxes weren’t submitted; by proving you didn’t pay taxes due to erroneous advice from a tax professional; or by paying the owed taxes.
Key Insights We Will Discuss
- What qualifies as a reasonable cause?
- What is a correction of service error?
- Why paying your taxes is necessary to get penalties abated