Reduce Penalties & Interest Information
The IRS Interest and Penalties Notices sent through the mail is a great way for IRS to get peoples attention. Penalties are for the failure to file tax returns and Interest is on obligations that people owe. You can pay it of course by money, give up assets or even go to jail. You can use penalty abatement to reduce a penalty but you must be current with your tax returns and have a good reason.It must be a proven reason.