LOS ANGELES (PRWEB) October 23, 2019
Internal Revenue Service continuously asks the taxpayers to file their tax returns on the set deadline to avoid significant penalties. IRS assesses the failure to file penalty when there are back taxes; taxpayers fail to file a tax return or request for an extension by the April due date. The tax penalty equals 5 % of the tax for the year that was unpaid during the original due date. Taxpayers will face a penalty for each month or part of the month when the tax return is late. If the return is more than 60 days late, the minimum penalty is either $ 210 or $100 percent, whichever is less.
Know the special filing deadline rules
Taxpayers must be aware of the specific deadlines that may affect penalty and interest calculations. But, these deadlines will only apply if you are a member of the military serving in combat zones, taxpayers living outside the US, and those who live in declared disaster areas.
Those who live in the disaster-affected area or the combat zone, IRS, can postpone specific deadlines. If still the taxpayers receive a late filing penalty notice from IRS, with the Tax Resolution Services from the experts, taxpayers will be able to resolve the issue.
Claim penalty relief
For those taxpayers who file their taxes on time and have not faced any penalty for the past three years can get the penalty abated. But, if the taxpayers don't qualify for the "first-time penalty relief," they can still claim it if they have reasonable causes of the late filing. Also, taxpayers must note that in addition to the penalties, they will have to pay interest on tax unpaid by the due date of April.
Tax payment made easy for the taxpayers
One of the reasons why taxpayers often miss the tax deadlines is because of the lack of knowledge of how to pay their due amount. Taxpayers often get confused with the complex tax filing process, giving rise to the delay in payment and application of subsequent tax penalties. With our expert tax professionals, taxpayers no longer have to worry about their tax payments. We offer help to taxpayers with their payment plans and provide other options like an offer in compromise, especially for those who owe IRS $10000 or more. Instead of getting confused and ultimately avoiding tax payment, taxpayers can consult the expert tax accountants to pay their taxes on time.
How Can Platinum tax defenders help you?
Platinum Tax Defenders assist the taxpayers with the expert tax resolution services to prevent them from falling in the trap of late fine penalties. Our range of tax services has helped individual taxpayers and business firms in managing their taxes. With the tax settlement services, we have helped clients to reduce their tax liability from $127,000.00 to $100.00. If you need expert help in resolving your tax penalties or claiming a penalty relief, you can consult us today.