Tax Penalty Abatement

Late Filing/Payment Penalties

Interest and penalties can be assessed for several reasons, including failing to file a tax return, failing to pay tax when it is due, failing to properly pay estimated tax payments, filing inaccurate tax returns, and committing fraud. Certain penalties can be reduced or eliminated through various methods like questioning the validity of the assessment or utilizing a reasonable cause exception. In certain instances, it may be possible to reduce the underlying tax debt, along with the penalties and interest, by amending your tax returns, resolving an audit in your favor, or appealing the initial findings of an audit.

California Business Entities

Corporations, partnerships, or limited liability companies doing business in California that have not filed all tax returns on time, filed a final tax return, or have not formally dissolved with the secretary of state may be assessed with tax, penalties, and interest by the Franchise Tax Board based on estimates. In some circumstances, the tax may be reduced or eliminated by filing accurate returns. Alternatively, if the business is no longer operating, it may be impossible for the government to collect the tax. Our attorneys are experienced in assessing your unique situation and determining the best course of action for you.

Negotiating with Tax Authorities

Occasionally, it may be in your best interest to resolve your tax debt by negotiating a payment arrangement with a Revenue Officer or a state tax collector. Our attorneys are experienced with various collection tactics, such as negotiating installment agreements or offers in compromise, or filing for bankruptcy in circumstances where your tax debt is dischargeable.

Contact an Experienced Tax Attorney in the Sacramento Area

If you are looking to reduce tax debt or tax liability, an attorney from NewPoint Law Group, LLP, may be able to help you. To schedule a free consultation, call 800-358-0305 or contact us online today.