First-Time Tax Offender? See if You Can Benefit From an IRS Penalty Waiver

An IRS penalty waiver does exactly what it sounds like – waives IRS penalties. For an individual filer, this procedure attacks failure-to-file or failure-to-pay penalties. For a business, these penalties also include those related to a failure to properly deposit payroll taxes. Pursuing this type of waiver is one step in the process of reducing or eliminating tax debt.

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Iggy Azalea Owes $400,000 to the IRS. See 3 Possible Tax Debt Penalties She Could Be Facing

Lately there’s been a lot of attention on Iggy Azalea and her terrifying $400,000 tax debt. And let’s face it, the IRS is probably one of the scariest entities to be indebted to. Other than a looming tax bill, what other consequences could Iggy (or someone like her) face?

Continue ReadingIggy Azalea Owes $400,000 to the IRS. See 3 Possible Tax Debt Penalties She Could Be Facing