IRS Form 843 – Penalty Abatement Request
The IRS will accept requests to reduce the total liability. The request has to be formalized with the submission of form 843. A taxpayer will explain the extenuating circumstances that created the liability. If the IRS determines that the taxpayer has demonstrated “reasonable cause” the IRS has the ability to remove some or all of the penalties associated with the debt.
Phoenix Financial Group has the tax professionals on staff to get the penalties removed from your account.