It may be possible to get an abatement of interest on employment taxes directly from the Internal Revenue Service (IRS). The U.S. Tax Court has also ruled that it has jurisdiction to review cases where the IRS has failed to abate a tax penalty based on employment taxes that are excessive in amount or that were illegally assessed, such as those mandated after the statute of limitations has passed.
Getting an Abatement of Interest on Employment Taxes
Your best bet for an abatement of tax interest is to start by contacting the IRS as soon as you receive any notification that you are responsible for any tax liability that is overdue. At this time, you should ask for both the abatement of the interest that is applied to your obligation and you may also wish to schedule a payment plan that will allow you to slowly pay off the balance that you owe.
Whether you will be able to have the penalties and interest that has been applied to your payroll or employment taxes abated by the IRS depends on the amount of time that has passed between the due date for your tax liability and the date of your request for abatement. As a general matter, if you wait for over a year before you attempt to request the abatement of interest, chances are that the IRS won’t be as lenient or forgiving as they would have been had you asked to have the interest abated immediately upon notification of an overdue debt.
IRS Interest Penalty Abatement Fail? Get Legal Help
Acting on your own behalf as soon as you possibly can in many cases will prove to be much more beneficial than trying to ignore your obligation to the IRS. If you are unsure about how to go about initiating the process, you should contact and consult a licensed tax professional or tax attorney to handle your situation.