Affecting 29.5 million taxpayers annually and there are over 150 different types of IRS penalties.
- Over 150 different types of IRS penalties
- Only 11% of all penalties are abated
- 80% are related to individual taxpayers
- Most common penalty is “failure to pay”
- Failure to pay, estimated tax, and failure to file penalties make up 96% of all penalties for individuals
“The IRS penalized me for late payment, late filing, or an inaccurate tax return”
Claudia Grant is a seasoned financial expert with a rich and diverse background. Holding a Master of Science in Taxation, Claudia's 15 years as a CPA and ten years as a financial manager have shaped her into a true industry authority. Departing from the traditional office setting, Claudia now thrives as a tax and financial consultant, catering to a wide array of companies. Her passion for sharing knowledge shines through her insightful articles, where she breaks down complex financial concepts into simple pieces. Claudia's expertise and dedication make her an invaluable resource for businesses seeking adept financial guidance in an ever-evolving landscape.Read more