Colorado Springs: What Can I Do Get My Penalty Abated on Appeal?

 

A few weeks ago you submitted your request for penalty abatement from the IRS.  After waiting with anticipation for a response, you finally receive a letter from from the IRS, but instead of the anticipated penalty abatement, you are told that you do not qualify for penalty abatement.  Can you you appeal this initial denial?  Yes, you can. What are some of the factors that  can help you to prepare and to win on appeal?

For a successful appeal you MUST have the following factors:

• Good books and records
• Have a good history of compliance
• Have all the information and show attempts to comply
• Hire a competent tax professional, such as an Enrolled Agent or CPA

Marcelino Dodge, Enrolled Agent is such a professional to help you get organized and to negotiate on your behalf with the IRS.  The Appeals Officer will not simply concede.  We will have to build a strong case and make their job easy to do.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs Video: How Do I Deal With the IRS Notices?

 

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs Video: My Request for Penalty Abatement was Denied, What Options Do I Have?

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: My Request for Penalty Abatement was Denied, What Options Do I Have?

 

When a request for abatement of penalties is submitted, many times you will get the response that your explanation does not meet the reasonable cause standard.  If you have received such a denial, do not despair.  There is normally a period of time (30 to 60 days) you have to appeal the initial decision.  This leaves the question: How can I win on appeal?

To start you need to hire competent tax professional such as Marcelino Dodge, EA to  represent.   With a proper review of your facts and circumstances, we can determine if you qualify for First Time Abatement or if a more detailed appeal is needed.  On a more detailed appeal we will need all the information and documentation as to why you feel the penalties should be abate.  A clear, concise letter of explanation can then be prepared and submitted with the documentation establishing your case to the IRS appeals office for review.  The strong case we present the easier we make it for the IRS to approve the penalty abatement.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs Video: I Filed Late and Have a Penalty, How Can I Get the Pen...

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: I Filed Late and Have a Penalty, How Can I Get the Penalty Abated?

 

For years you have made estimated tax payments, filed your tax return, and paid your taxes on time.  But, as happens to so many people you have an unexpected event that contributes to you missing the April 15 filing deadline and missed making your tax payment on time.  You also failed to file an extension.  Whether you file and pay in one month or 6 months, you are likely to be assessed under Internal Revenue Code section 6651 a Failure to File Penalty and Failure to Pay Penalty.

In general to have penalties abated the IRS requires you provide an explanation of reasonable cause.  What "reasonable cause" is can be challenging to prove to the IRS.  For this discussion though the reasonable cause argument will not be needed.  How can you get penalty relief?  The Internal Revenue Manuel (IRM) has an administrative relief provision if you meet qualifying criteria.  This relief is know as First Time Abatement.

Marcelino Dodge, EA helps taxpayers to first see if they qualify and if so, then to take advantage of this administrative relief.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Tax Accountant IRS Tax Preparation Services In Colorado Springs

Tax Accountant IRS Tax Preparation Services In Colorado Springs: Tax preparation, tax preparer, tax filing, tax accountant, tax relief and remediation from Cash Tracks Financial Colorado Springs. Call(719) 359-8789.

Tax Preparation Resources From Cash Tracks Financial Colorado Springs

Colorado Springs: How Can I Qualify for an Offer-in-Compromise?

 

When a taxpayer owes tens and even hundreds of thousands of dollar the the IRS for back taxes, an analysis of your reasonable collection potential is absolutely essential.  Without this analysis any submitted Offer-in-Compromise stands little chance of being accepted.  What your actual monthly expenses are may not be accepted by the IRS.

The analysis will help to determine what your future income is for purposes of IRS tax payments.  A thorough analysis will reveal if you qualify for an Offer-in-Compromise.  A well trained Enrolled Agent specializing in tax representation will complete this analysis before even recommending what action to take for your specific situation.

Marcelino Dodge, Enrolled Agent takes the time to do the necessary analysis of your income and expenses to determine what is the best course of action for your unique situation.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: Owe Hundreds of Thousands to the IRS? What Can You Do?

 

Where do you start?  First find a tax professional such an Enrolled Agent to a complete analysis of your specific situation.   With the analysis you will compare what you spend with what the IRS allows.  There will be an analysis of assets to check on equity you have in any real estate, including the home you occupy.   There is also an examination of the amount time left on the collection statute.   A proper analysis is necessary to know exactly what you can and cannot due.

Can some type of loan be used to help make you uncollectable?  Will filing the state tax returns first help you with the IRS?  These are just two of the questions that can be asked during the representation process.  

Marcelino Dodge, EA can complete the analysis and help you get your tax issues resolved.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Suite 200

Colorado Springs, CO 80903

(719) 359-8789

www.cashtracksfinancial.com

success@cashtracksfinancial.com

Colorado Springs: What is a Doubt as to Collectability (DATC) Offer?

After careful analysis, the determination is made that you are a candidate for an offer in compromise through Internal Revenue Code Section 7122.  But, what kind of offer in compromise is right for you?  

To make an accurate determination a careful analysis must be completed.  Once your assets  and income have been analyzed to determine you ability or lack of ability to pay your tax bill, one possibility is the Doubt-as-to-Collectability offer.  With this type of offer you are telling the government that due to lack of assets and low future income, that you are simply unable to pay your taxes.

With this type of offer you request the government to accept a lower amount based on your financial situation.  Most commonly taxpayers offer either a lump-sum or make payments over a 24 month period.  To make this type offer there must be a detailed analysis completed by a competent tax professional such an enrolled agent.

Cash Tracks Financial of Colorado Springs

Marcelino Dodge, EA

525 N Cascade Ave., Ste 200

Colorado Springs, CO 80903

Office: (719) 359-8789

www.cashtracksfinancial.com