Abatement of Penalties & Interest in Dallas-Fort Worth, TX

IRS Penalties and Interest

It seems like the Internal Revenue Service loves punishing taxpayers with penalties and interest. Tax penalties began as a way to encourage prompt payment for taxes owed to the government. They’re added so often now that the extra charges have become a primary money-maker for the Internal Revenue Service. The IRS assesses billions of dollars in penalties against taxpayers annually.

Nick Nemeth and his team of tax attorneys, financial analysts, CPAs, enrolled agents, case managers, and legal assistants can help taxpayers  try and remove or reduce penalties, otherwise known as penalty abatement. Interest accrues on any unpaid balances in addition to penalties and generally cannot be abated. However, if an underlying tax or penalty is removed or reduced, the interest that has accrued on that portion should be abated.

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    Two common penalties that can meet criteria for possible abatement are:

    • Failure-to-File: A failure to file penalty may apply if you did not file your tax return by the tax filing deadline.
    • Failure-to-Pay: A failure to pay penalty may apply if you did not pay all of the taxes owed by the tax filing deadline.

    Each of these penalties are calculated a bit differently. Although both are capped at a maximum of 25% of your unpaid tax. The Failure-to-File penalty is 5% of your unpaid tax for each month the return is late. The Failure-to-pay penalty is 0.5% of the unpaid tax for each month the tax remains unpaid. The IRS will assess penalties for partial months.

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    What Our Clients Have to Say

    Susan WilsonSusan Wilson
    03:27 25 Jan 23
    I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
    Sarah HowardSarah Howard
    03:44 14 Nov 22
    I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
    M WM W
    00:33 07 Aug 22
    I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
    Spoilly GirlSpoilly Girl
    23:49 03 Aug 22
    The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
    Eddie WaltEddie Walt
    19:44 12 Jul 22
    During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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