M&M Helps Wolcott, IN 47995 Business Resolve IRS Civil Penalty Tax Debt

IRS Penalty Abatement, Removal and Reduction

In August 2014 M&M helped an Indiana business completely remove a $27,645 IRS Civil Penalty. The penalty was assessed by the IRS due to missing W2/W3 forms that were apparently not received by the Social Security Administration.

M&M has been very successful on behalf of its clients in removing IRS Civil Penalties under IRC 6721. If your business has received a Civil Penalty due to a W2/W3/941 discrepancy, call M&M today at 866-487-5624. You’ll be glad you did!

M&M Financial’s IRS Penalty Abatement Success

At M&M we don’t keep track of every IRS penalty we get reduced for our clients. The statistic would be nice to have, but it would eat up a lot of our time to keep an accurate figure. We get a significant amount of penalties removed for our clients at M&M. To keep track of every dollar would be tedious and time consuming. So, we believe our time is better spent helping our clients.

However, we do add some of our successful client abatement examples to the M&M website every so often. In 2011 we gathered up what successful IRS penalty abatement notices we could find going back to 2008 and place them on our website. We continue to add to the list regularly. It’s something we’re proud of.

IRS Penalty Removal and Reduction

If you look at the successful abatements on our website, M&M’s total penalties abated for clients are more than $6,200,000. Continue reading

Information About Your IRS Penalty Abatement

M&M Financial provides free tax guides on its website. Here is the information contained in the IRS Penalty Abatement guide. Click here to request the following free tax guides.

• IRS Tax Liens
• Penalty Abatement
• Offer in Compromise
• IRS Levy and Garnishment
• IRS Installment Agreement

Penalty Removal and Reduction

The IRS uses penalties to encourage voluntary taxpayer compliance. The Service may consider the abatement or removal of penalties if the circumstances surrounding the accrual of the tax fall within the IRS Reasonable Cause criteria for the abatement of penalties. Continue reading

M&M Helps Larchmont NY Client Remove 68% of Penalties Associated with Payroll Tax Debt

IRS Penalty Abatement Larchmont, NYA New York client hired M&M in January 2014 to request the removal of penalties associated with a payroll tax debt. Due to financial difficulties suffered by the business, M&M was able to convince the IRS to remove $8,411.12 of a total $12,300.67 in penalties. But, it wasn’t easy.

After our initial request for penalty abatement was denied, M&M went to IRS Appeals to plead our client’s case. Finally after negotiating with IRS Appeals, in October 2014 the Service sent us the abatement acceptance letter we were looking for.

IRS Penalty Removal

$8,411 in IRS penalties removed – $1,341 M&M’s fee = $7,070 Savings for our Client.

Call 866-487-5624 to speak to an M&M Tax Expert about resolving your business payroll tax debt.

M&M Helps Hazlet NJ Client Reduce a $24,000 Civil Penalty

IRS Penalty Abatement Hazlet, NJ_Abatement

IRS Penalty Removal

M&M’s Hazlet New Jersey client had a total IRS tax debt of more than $50,000. A large chunk of the tax debt was a Civil Penalty due to failure to file W2’s with the Social Security Administration. M&M was hired to request the removal of the penalty and secure a resolution to the remaining balance in the form of a monthly Installment Agreement.

IRS Penalty Removal

We were successful in reducing the Civil Penalty from $24,576 to just $300!

Penalty Abatement $24,276 – M&M fee $2,950 = Client savings of $21,326.

And, our fee covers the resolution of our client’s remaining balance due to the IRS.

Call us at 866-487-5624 to find out how M&M’s Tax Resolution System can help you.

Employers and IRC 6721, IRS Civil Penalty for Failure to File Correct Information Returns, a 941-W2 Discrepancy

Click to learn more.

Click to learn more.

Are you a business owner? Have you filed your W2/W3 forms completely and correctly each year with the Social Security Administration (SSA)?

This is an important question to ask yourself. If you haven’t filed your W2/W3 forms, your business may be looking at a hefty Civil Penalty. We’ve had clients with Civil Penalties over the $1 Million mark. Sounds ridiculous, but it’s true.

The IRS shares information with the SSA. It takes them a few years to do it, so right now the IRS is probably looking at 2011 W2/W3 forms. The Service will compare a business’s 941’s with the W2/W3 forms for a given year. The totals reported on the W3 should match the totals of the four 941 forms when added together. When there is a discrepancy, one of two things happens. The IRS looks to assess additional tax to the business. Or, the IRS looks to assess a Civil Penalty to the business.

If the W2/W3 totals are more than the 941 totals, the IRS will likely look to assess additional tax to the business.

If the 941 totals are more than the W2/W3 totals, the IRS will likely took to assess a Civil Penalty to the business under Internal Revenue Code (IRC) section 6721. If there is a slight discrepancy, the Civil Penalty may not be too high. Where most businesses with this issue get into big trouble is when they don’t file the W2/W3 forms at all or the SSA isn’t able to process them because they’ve been submitted in the wrong format.

Before issuing the additional tax assessment or Civil Penalty to a business, the IRS will make attempts by mail to get updated and accurate information from the business taxpayer. I can’t stress enough, the importance of opening your mail from the IRS. If proper documentation is not provided by the IRS deadline given in the IRS notice sent via US Mail, the additional tax or Civil Penalty will be assessed.

M&M has successfully requested the abatement of IRC 6721 Civil Penalties for many clients. We’re confident we can so the same for you and your business. If your business has received a Civil Penalty assessment for a 941-W2/W3 discrepancy, contact M&M. Even if you don’t hire us to request the abatement of your business Civil Penalty, you’ll learn quite a bit about the process. Call us at 866-487-5624 to speak with an M&M Tax Advisor.

IRS Penalty Removed for M&M Client in Chicago Heights, IL 60411

Chicago Heights, IL_$5,056 Abatement_7.15.2013M&M successfully abated all of the penalties assessed by the IRS to a Chicago Heights business payroll tax account. The total IRS tax debt when we started was approximately $71,000. The total penalty removed was $9,628.05. That’s more than 13% of their tax liability removed. Here’s how it happened.

Our Chicago Heights business client came to us with a formal Installment Agreement to pay their back tax debt already in place. This is important because a formal resolution to the tax debt tells the IRS that the problem that caused the accrual of the tax and penalty is fixed. The Installment Agreement shows the IRS that the delinquent taxpayer is now compliant with its current tax responsibilities, out of IRS Collections and paying back the taxes. This gives the reasons behind the accrual of the tax more credibility.

We had our new client complete our Abatement questionnaire so that we could get a good idea of the circumstances that caused the tax accrual. As we constructed the Abatement request using our clients answers on the questionnaire and the Internal Revenue Manual (IRM), new questions emerged. In this case, our business owner had suffered significant health issues that caused him to be away from his business and therefore accrue a payroll tax liability. With our client’s help, we were able to determine the exact timeline and wording to include in the Abatement Request.

Chicago Heights, IL_$4,572 Abatement_7.15.2013After preparing the written Abatement Request with proper IRM references and substantiation documents, M&M submitted it to the Service. It was denied. This is something we’ve experienced many times and we were prepared for it. We don’t quit on the first “no”. So, we sent a timely request to IRS Appeals for the reconsideration of our Abatement request.

While waiting for our Appeals hearing, we got our ducks in a row and made sure our presentation of the facts was clear and concise. After review of M&M’s Appeal Request on our client’s behalf, the IRS Settlement Officer agreed with our reasoning and approved the abatement of all penalties assessed to our client’s account.

M&M offers an Abatement Request service for $500 and 10% of the penalty amount abated. This means there is little risk and maximum reward for our client’s. It also ensures that your M&M Tax Team will be fighting to get your penalties removed because our success is tied to your success. Call M&M today at 866-487-5624 to find out how we can help you resolve and reduce your back tax liability.

M&M Financial Tax Resolution and Reduction Common Client Questions

15 Day Guarantee Tax Debt Help Services

15 Day Money Back Guarantee on M&M Tax Debt Resolution Services

At M&M Financial we’ve been helping struggling taxpayers resolve their back tax debts since 2005. Each new client over the past nine years has brought a new set of challenges, which is one of the things we love about our jobs at M&M. As we resolve one client’s tax debt and send them on their way with less stress and a fresh outlook, another client comes to us with a new tax debt and new hurdles.

Although many things change over time, we’ve heard a lot of the same questions from our new clients. A few of the common new client questions we come across are listed below.

Will the IRS make a settlement? Continue reading

Tax Penalty Removal

The Truth About IRS Penalty Abatement

Click to learn more  about how M&M's Tax Resolution System can help you.

Click to learn more about how M&M’s Tax Resolution System can help you.

If you’re reading this you have or have had a back tax debt. It is also likely that you have talked to a handful of tax resolution professionals about the severity of your tax liability and the options available to fix it. No doubt you’ve also been pitched penalty abatement. Some of you may have been promised a reduction of your total tax debt through penalty abatement. If you take one thing away from this article, let it be that there are No Guarantees in tax resolution, including penalty abatement.

No Guarantees

No salesman or tax professional can guarantee anything in regards to your delinquent tax case without first analyzing your current financial condition and conducting a thorough investigation of your IRS account. Even after these two key steps are completed, there is very little room to guarantee that you will save any money while resolving your tax debt. Keep in mind that the investigation can’t be done without your signed authorization.

Unlike federal tax liens, the sensitive taxpayer information necessary to conduct a proper investigation of a delinquent tax account is not a matter of public record. This means a third party (salesman/tax professional) cannot receive any information from the IRS about your account without first obtaining an authorization signed by you the taxpayer.

Now that we have the problem with outcome guarantees covered, let’s move on to the truth about your chances at reducing your tax debt through penalty abatement. Continue reading

Tax Debt Help New Albany, IN 47150

Click to see more M&M Financial tax resolutions in Indiana

Click to see more M&M Financial tax resolutions in Indiana

At M&M, we know that true tax debt relief is much more than just a hastily-prepared request for the removal of penalties. Case in point, the owner of an Indiana marketing firm had recently been assessed a $13,843 IRS Civil Penalty. Believing that this assessment was unfair, our client struggled for weeks to draft a Request for the Abatement of Penalties on her own. Realizing that she only had one chance for penalty reduction or removal, she turned to the Penalty Experts at M&M.

Because penalty abatement is one of our areas of expertise, we went to work immediately, starting our client’s Abatement Request from scratch. She was able to provide us with plenty of supporting documentation, which further illustrated M&M’s contention that the Civil Penalty assessment by the IRS.

A few weeks later, M&M submitted a concise, professional and effective Penalty Abatement Request to the Service. Our cautious optimism was soon rewarded when the IRS agreed to remove our client’s entire $13,843 Civil Penalty! And while we can’t promise those results in every case, it is wise for any business or individual with unwanted penalties to talk to the Penalty Experts at M&M. Let us show you how we can bring value to your business.