In a nutshell, a friend of mine didn't pay on time, no extension. I'm curious if there's any way that the IRS will forgive or reduce a penalty for late payment. Has anyone here ever been able to do this?
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Can you avoid paying a tax penalty?
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Can you avoid paying a tax penalty?
I'm consitently stupid- Japher
I think that opinion in the United States is decidedly different from the rest of the world because we have a free press -- by free, I mean a virgorously presented right wing point of view on the air and available to all.- NedTags: None
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It might be worth hiring a tax lawyer. While it will cost something, they can be good at negotiating partial payment of penalties when accompanied by a payment schedule.It's almost as if all his overconfident, absolutist assertions were spoonfed to him by a trusted website or subreddit. Sheeple
RIP Tony Bogey & Baron O
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Here, you can make things easier in asking for delay before the due date; this will avoid the penalty, but not the interests. And when all installments have been paid as authorized, you can ask for the charge of interests being reduced or even cancelled.Statistical anomaly.
The only thing necessary for the triumph of evil is for good men to do nothing.
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Here you pay interest and a fine of $110 per month (up to a maximum of $550) if you are late. On the other hand, you can claim the interest you paid this year as a deduction on your return next year.I'm building a wagon! On some other part of the internets, obviously (but not that other site).
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