Did you fail to file a tax return? Maybe you just did not make your full tax payment. Either way, you are one of the numerous Connecticut residents who owes back taxes, and the Internal Revenue Service has tacked on a significant amount in penalties to the amount you owe. What can you do?
If the penalties associated with back taxes are killing you financially, you may be able to do something about it. Yes, penalties are common when you fail to pay taxes, but sometimes, the IRS applies these penalties inappropriately. To see if that is happening in your case, let an experienced tax attorney look into your case.
If you had a valid reason for filing late, not filing or failing to pay your full tax amount due, it may be possible to have your tax penalties waived. This is called tax penalty abatement. To learn more about this particular subject, please take a moment and visit our firm’s website. If this applies in your case, and you and your legal counsel are able to successfully fight for it, it could save your hundreds, if not thousands, of dollars.
If tax penalty abatement does not help resolve the penalties associated with your back taxes, there may be other solutions that will lower your tax liability or allow you to make affordable payments to the IRS. Again, an experienced tax attorney can review the finer details of your situation and discuss all your options with you. Tax relief is available to Connecticut residents; it is just a matter of finding the right solution for your specific situation.