The Snowball of Avoidance
Most people do not stop filing taxes because they are trying to cheat the system. It usually starts with one hard year: a divorce, illness, failed business, lost records, bad bookkeeping, or a tax bill they could not afford. Then one missed return turns into two, then five, and suddenly the…
The IRS Punishment Machine
IRS penalties are designed to crush you financially. But the IRS also has a “delete” button they do not exactly advertise, and it is called IRS penalty abatement.
If you qualify, you may be able to get penalties reduced or removed for late filing, late payment, or other tax compliance failures.…