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IRS Penalty Abatement

A medical equipment company located in Michigan hired Timberline for overall protection, account representation, and penalty removal. The Associate assigned to the case immediately obtained a 60-day hold on enforcement which allowed Timberline the opportunity to obtain, review, and analyze the client’s financial documentation, and then determine the most appropriate resolution. The Associate actually negotiated the business account, as well as each of the owners’ personal accounts. After the successful negotiation of an Installment Agreement, the team submitted the documentation required to request abatement of penalties from the personal accounts. The abatement was approved for the removal of penalties in the amount of $6,864.95 from an account with an estimated total tax liability of $381,764.33.

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