It's easy to let these things slip through the cracks, but delinquent tax returns can lead to some very undesirable consequences in the form of severe penalty charges that include interest. With the charges growing every day as interest accumulates you can quickly see your debts grow. If you don't care of it as soon as possible you will eventually find yourself with more money than you can dream of paying in one lump sum. Before the Internal Revenue Service goes as far as to enforce federal wage garnishment, you should consider what your options are and take care of the situation as quickly and responsibly as possible.

One of the options that you may want to consider if you have been late paying your taxes, or just not paid at all, is IRS penalty abatement. If you have some sort of legitimate reason for not having paid your taxes on time, the Internal Revenue Service is required to hear your case. If your case is approved you will either be completely forgiven for your delinquent tax returns or have your charges reduced to a more manageable amount. The process is a bit complicated, however, and often requires professional assistance.

If you want to qualify for IRS penalty abatement you must first be able to provide all required documentation in order to satisfy the Internal Revenue Service. The reasons that you provide must also be legitimate and well explained through a written text or verbal interview that is genuine and easy to understand. There are certain guidelines that the IRS follows as well, and if your application does not prove that your reasons for not paying fall within those guidelines you will be denied.

There are three ways that you can apply for IRS penalty abatement ? in writing, verbally or with Form 843. Some of the common reasons that people give for their delinquent tax returns are natural disaster, long term unemployment, serious health problems, misplaced financial records, IRS mistakes and death in the family.