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There is hope! Taxpayers that are hit with IRS penalties can request the penalties to be abated. Abated means to completely or partially remove. In many cases where a taxpayer requests abatement, the IRS removes 100% of the penalty. The IRS requires that you have a good reason to request penalty abatement.
What qualifies as a good reason?
It depends on the circumstances involved with your particular situation. The IRS procedures for deciding who qualifies for penalty abatement and for what reason seem to differ in each case. The best thing you can do is to request that the IRS abate your penalties by providing the circumstances surrounding your situation.
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"When I first came to IRS Problem Solvers, my debt with the IRS was over $100,000. By the time everything was completed, I paid nothing." - Nancy