Ronald A. Muscarella

IRS Tax Penalties

Free Consult StarDid you know that there are over 140 different tax penalties that the IRS can charge the taxpayer? A tax penalty is designed to encourage compliance, as well as to punish those who fail to comply with the tax code. Of the hundreds of penalties, only a handful are commonly used. These federal tax penalties all fall within five categories:

These income tax penalties can be very harsh, as they are designed to encourage people to pay their taxes in full and on time. Unfortunately, there are times when a taxpayer has a legitimate reason for filing a late tax return, or being unable to pay their tax debt. In these cases, some tax penalties can be especially crippling. For example, the "failure to file" penalty begins at 5% the day after a tax return is due, and maxes out at 25% after 5 months. If the taxes are not filed within 60 days of the due date, then the penalty will be $135, or 100% of the unpaid tax amount, whichever is less. If the IRS determines that you intentionally did not file your taxes in an attempt to defraud the IRS, the penalty will increase drastically to 15% per month, with a max of 75%. Considering that a number of other penalties can be applied on top of this, it is easy to see how overwhelming tax penalties can become. In fact, federal tax penalties can account for up to 90% of the total amount owed!

IRS Tax Penalties

Given how crippling a tax penalty can become, it's important to call a professional accountant or tax attorney for sympathetic counsel and expert skills. So if you find yourself struggling with your debt due to steep tax penalties, call Ronald A. Muscarella CPA. We're here to help you mitigate all of your expensive fines and skyrocketing interest rates, so you can keep your finances on track. Call us for a free consultation today.

At Ronald A. Muscarella CPA, we're capable of providing you with IRS tax relief from all of the tax authority's most common penalties. In order to collect tax debt and IRS tax penalties from delinquent taxpayers, the IRS relies on a variety of methods, and it's up to Ronald A. Muscarella CPA to provide you with resolution for these problems. IRS tax penalties may come in the form of:

When faced with steep tax penalties, IRS wage garnishment, tax levies, and other strategies designed to punish non-compliant taxpayers, don't be overcome with stress and panic. Chances are, you have a legitimate excuse and mitigating circumstances surrounding why you underpaid or failed to pay your taxes. If that's the case, let the professionals at Ronald A. Muscarella CPA help you find comprehensive IRS tax relief. Contact us today for your free consultation to see how we can best help resolve your tax penalty.

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