May 19, 2024

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Finance Blog

IRS Penalties – What You Need To Know

Is your tax return looking a little worse for wear? The IRS seems to have an increased focus on pushing individuals into a higher tax bracket due to late payments, to recoup the lost revenue that they’ve experienced. With this in mind, you may want to consider taking out a loan or using other means of income to pay your overdue taxes.

How Are Penalties Calculated?

IRS payroll tax penalties for tax evasion can be serious and may include fines, prison time, and loss of your business or income. The IRS will calculate penalties based on several factors, including the amount of money you avoided paying in taxes, the level of concealment used, and your previous history.

Tips on Getting Appealed Decisions

If you disagree with an IRS decision, there are a few things you can do to get the decision overturned. The most common way to appeal an IRS decision is through the Tax Court. However, there are other ways to appeal if you’re not happy with the decision.

The first step is to contact the IRS and let them know that you disagree with the decision. You may also want to send them a copy of the original tax return and any supporting documentation. If you have additional information or questions about the situation, you can also file a formal objection.

After contacting the IRS and gathering your evidence, it’s time to submit your appeal. You can do this by contacting the Tax Court’s Appeals Office or by filling out an appeal form and mailing it in. Make sure to include all of your documentation and explain why you think the original decision was wrong.


If you have failed to File your taxes, there are penalties and interest that will be charged. The IRS can impose a variety of penalties, including a failure to file penalty, accuracy-related penalty, information return filed late penalty, and failure to pay tax when due penalty. In addition, the IRS may assess interest on any unpaid taxes from the date the taxes were due until paid.

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