IRS Tax Penalties
What Are iRS Tax Penalties
In certain instances, tax penalties can create a tax liability for a taxpayer. In these situations the IRS may be willing to review the penalties in question. This might lead to an abatement depending on the reasoning behind the penalty.
As per the IRS, a tax penalty should not be assessed if the taxpayer’s liability is a result of “reasonable cause” and not of “willful neglect.”
Reasonable cause can include the follow instances:
- A death or illness in the taxpayer’s immediate family
- An unavoidable absence
Destruction by natural causes of the taxpayer’s residence
- The taxpayer’s inability to reasonably obtain records for liability determination
- The non-filing stemmed from an IRS error
- The non-filing stemmed from the U.S. Post Office
- Failure by a competent tax advisor
- A civil disturbance
The burden of proof resides with the taxpayer to prove reasonable cause.
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