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IRS Penalties

It starts simply enough. You find you owe taxes that you cannot pay. What to do? All too often, you decide not to file at all. Later you will have had time to save up some money to pay the tax debt. Why not wait and file then? First of all, once the pros at Cornerstone Tax Resolution dig into your situation and properly apply all deductions at your disposal, you may find that you don’t owe money after all. We can evaluate your situation and determine if you’re eligible for a refund. If you are due a refund, you don’t owe penalties for late filing. It’s worth a look.


If, however, you do end up with a debt you cannot resolve, this is where the expertise of your tax team is invaluable. For example, there are solutions available whereby you might have legitimate cause for not being able to pay. At this juncture it is vital to determine by a thorough review of your financial situation whether you qualify to have IRS tax penalties waived thereby reducing a huge percentage of the debt to be paid. Many tax professionals are unaware of the options available at this point. This is yet another reason why the help from your CTR tax team is invaluable.

If you qualify for relief from penalties, we present, prepare and file the appropriate documentation and check it for accuracy. We can locate missing information in the IRS master file and insist on its application. We act as your personal representative and speak on your behalf while keeping you informed of the situation every step of the way.

There are several potential penalties of which you should be aware. They involve either failure to pay or failure to file. Cornerstone Tax Resolution professionals have expertise with all potential IRS penalties and their application. We explain the penalty in detail and make sure you understand the process. Returns may need preparation or extensions filed. The goal is to avoid these penalties entirely and get you back on track as quickly and inexpensively as possible.

We take your privacy very seriously. We insist the IRS does not disclose your tax information. We diligently explain your rights to privacy and ensure your personal affairs remain protected. Guaranteed. We also review your records to ensure you are being treated fairly and that your rights are being protected. This is our commitment to you.