Bankruptcy & Tax Debt

Bankruptcy & Tax Debt

Bankruptcy is often seen as a last resort—but for some taxpayers, it can be a powerful tool to finally break free from overwhelming tax debt. While not all tax debts qualify for discharge in bankruptcy, there are situations where filing can either eliminate or...
Penalty Abatement for Reasonable Cause

Penalty Abatement for Reasonable Cause

When tax issues arise, penalties can quickly add up, making an already challenging situation even more stressful. The IRS, however, offers a potential lifeline through the Penalty Abatement for Reasonable Cause program. This relief option can significantly reduce or...
First Time Penalty Abatement (FTA)

First Time Penalty Abatement (FTA)

If you’ve been hit with IRS penalties for failing to file, pay, or deposit taxes on time, the costs can add up quickly. But there’s good news—if this is your first offense, you may qualify for the IRS’s First Time Penalty Abatement (FTA) program. At Jablonsky...