Reducing Penalties And Interest For Taxes Owed

If you or your business owes taxes, the Internal Revenue Service may assert penalties and interest on the amount of taxes owed. There are a myriad of penalties that may apply, and they are often subjectively applied. Determining whether the penalties apply to you is a complex analysis that often requires the work of experienced attorneys.

At the Baker Law Firm, P.C., in Danbury, Connecticut, we use more than 50 years of combined experience to protect our clients' interests. Our attorneys shield individuals and businesses from assessment of unwarranted tax penalties and interest. We work directly with the IRS in determining which penalties (if any) apply based on the facts involved.

Using thorough knowledge of the federal tax law, we use facts and exceptions to our clients' advantage. Negotiated alternatives can include installment agreements, Offers in Compromise or other accords that allow our client more time to pay taxes. Our approach, however, depends on the nature of the issue, our clients' unique goals and whether criminal tax issues are involved.

Types Of Penalties And Interest

If you owe taxes on a late tax return, the IRS may calculate additional penalties and interest, which are typically divided into separate penalties that can be asserted by the revenue agent — each one calculated differently:

  • Failure to file penalty
  • Failure to pay penalty

Senior partner Fred L. Baker can help you understand exactly how these penalties and interest may apply in your situation. Mr. Baker, a former trial attorney for the IRS, has a master's degree in taxation and provides more than thirty years of experience in tax law defense, which he uses to help develop solutions that are right for you.

Contact Us

If you have been contacted by a taxing authority, or if you are facing an IRS tax audit, it is critical that you seek an attorney's guidance regarding reduction of tax interest and penalties. To speak with a lawyer at the Baker Law Firm, P.C., please call us at 203-648-4737 or complete our online contact form.