IRS TAX PENALTIES

(You Get Punished)
The IRS penalizes millions of taxpayers each year. They have so many penalties that it's hard to understand which penalty you've received.

When you do not file and do not pay your tax liability it increases by 50% in a short period of time. To make matters worse, the IRS charges you interest on penalties. IRS interest is compounded daily and you have to pay income tax on any penalty you do pay the IRS. You might find out about the IRS problems years after they have occurred, when they are full grown monsters.

Some IRS penalties can be as high as 75%-100% of the original taxes owed. Even if you could pay the taxes owed, the extra penalties make it impossible to pay off the entire balance.

The IRS imposes penalties to punish taxpayers and keep them in line. The IRS does forgive penalties. Before you pay the IRS any penalty amounts, you may want to consider requesting the IRS to not punish you because it wasn't your fault.