A Complete Guide to the Tax Penalty Abatement Program
As a taxpayer, it can be a huge burden for you to be charged with a tax penalty most especially in special cases where the failure is not due to your negligence and you really have nothing to do about it. Yet are you aware of the fact that even when you failed to comply with your tax liabilities, you can still avail relief from such penalties provided that you have a valid excuse? This is what you can call the tax abatement program and this tax program aims to provide relief to people who should be given a valid excuse when they are charged with tax penalties.
But when it comes to availing this tax program, you don’t just get relief from penalty just because you forgot to pay your tax or any other light reasons because there are also certain qualifications in order for you to be validly excused. You can avail three qualifications in order to get relief from penalty and one of them is the failure to pay taxes on time provided that you have a valid excuse to reason out for such failure. You can also avail this tax program if you have failed to file your very own tax return for a certain year also with a valid excuse provided by the law. You can also avail this tax program as a relief when you have failed to deposit your tax as provided by the law.
If you are also hoping to get relief from penalties, you can also make sure that you will be able to get just what you need given that your case falls under the reasonable causes. One of the accepted reasonable causes for relied is any type of fortuitous events such as a natural disaster, fire, serious disturbance, and casualty. These are among the strongest reasonable grounds that you can claim in order for you to get relief from penalties. Therefore, when you are experiencing any of these fortuitous events and the result for that is your inability to settle your tax liabilities, worry no more because you will get relief from penalty.
You can also secure relief from penalty when you are suffering from any type of serious illness, incapacitation or death of an immediate family member which caused your inability to comply with your tax liabilities. When you are suffering from grievances, there is also a higher chance that you will be able to qualify for this tax program because this also constitutes a valid defense on your favor. However, if there is no negligence, fault or any other type of inability on your part but still you are unable to pay due to difficulties in obtaining your records, you can also be entitled to tax abatement. If you want to learn more about this tax program and all the other important considerations you need to take note of when filing for relief, discover more in this page now!