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Navigating through challenging financial situations can easily lead to falling behind. Failing to meet tax obligations promptly can result in substantial penalties and accruing interest. Determining the right course of action and comprehending your tax responsibilities can be a daunting task. Moreover, grappling with the complexities and frustrations of dealing with the IRS and California’s taxing authorities adds to the confusion.
At Tenina Law, we bring decades of experience in effectively handling tax penalties. For over 20 years, we have successfully advocated for clients in tax cases involving both the IRS and state agencies. As a trusted tax penalties lawyer in Los Angeles County.
Many times it’s not the back taxes that are the real problem. The penalties and interest compounded over many years can create an insurmountable tax debt, which is sometimes even bigger than the initial amount owed. This is usually a result of waiting too long thinking that the problem will go away, all the while it gets much worse. The penalties and interest are usually due to:
The IRS has ways of determining who may have paid less than they were supposed to – this is an inexcusable offense and the penalties can be significant. perhaps as high as 20% interest.
There is a good reason why we have a fixed date of April 15 for filing tax returns. If we didn’t, many more people would be paying late. You should know that even a one-day delay could trigger the IRS penalty for late filing. You could be responsible for 5 to 25% interest levied as your penalty.
Most taxpayers are not aware that monetary gifts need to be taxed. Of course, the same goes for property taxes. there’s no way of getting around this either. These gifts must be shown when filing your return. If you don’t, you could face a penalty of between 20 to 35%.
Any kind of purposeful tax deception can mean a penalty of up to 75%.
When submitting a petition for “an abatement of penalties,” the taxpayer needs to have ‘reasonable cause and must be able to explain why the IRS should grant the penalties to be removed.
At Tenina Law, Inc., we have years of knowledge and experience with penalty abatement. Dealing with tax issues is extremely complicated and stressful. you need a tax lawyer who specializes in tax law and has experience in helping people get rid of their IRS problems.
When you’re penalized for late payment, penalties, and interest can account for as much as 40 percent of your total tax bill. This can have a significant impact on your ability to manage debts. However, there are ways to reduce or avoid these penalties. We will analyze the penalties you face, evaluate your situation, and develop the best strategy to protect you.
Experience is crucial when it comes to effective communication with the IRS. Attorney Alla Tenina has extensive experience in handling a wide range of penalty abatement requests. Tax professionals nationwide recognize him for his expertise in tax law. He has authored 20 books on tax law and obtaining relief from federal and state tax debts. With a comprehensive understanding of the abatement procedure, he can assist you in preparing the appropriate response to a notice of deficiency.
To schedule an appointment with Tenina Law and discuss your tax penalty abatement and interest abatement issues, please call or contact us online.
At Tenina Law we have over 20 years of experience and dedication to serving our clients. Our extensive expertise in these practice areas guarantees the best outcome for all of our clients!
Each of our clients are treated like family and just another case. Our personal approach leads to better results for the client.