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How likely is it that the tax due can be settled without the

Customer Question
interest and penalty? JA: The Accountant...
How likely is it that the tax due can be settled without the interest and penalty?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Recently was advised that tax was due from 2007 but just received notice this year 2016 so interest has accumulated.
JA: Is there anything else the Accountant should be aware of?
Customer: Ga tax due was based on an income change on Fed tax return
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Submitted: 1 year ago.Category: Tax
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Answered in 2 minutes by:
6/22/2016
Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 1 year ago
DanielleCPA
DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 794
Experience: Years of Experience in Business & Personal Taxes
Verified

Welcome and thank you for your question. I am a CPA and here to help you with your tax question. Please give me a few moments to answer your question.

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Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 1 year ago

Unfortunately, interest can only be waived in very limited circumstances. The chances of getting the interest waived or reduced are very slim. Interest can only be waived based on action or inaction on the department's part. This means you would have to prove that it was the department's fault that caused the interest to accrue.

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Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 1 year ago

However, your chances for getting the penalty waived are better. Penalties can be waived in more circumstances and the Department of Revenue will take into account your past filing and payment history. If you can prove reasonable cause, you should be able to get the penalties reduced.

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Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 1 year ago

Here is a link to the information that Georgia has published regarding penalty and interest waivers. I will be happy to help guide you through it if you have any questions.

If this answers your question, please rate the question to close out your inquiry. If you have any follow-up questions let me know and I'll be glad to be of assistance.

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Customer reply replied 1 year ago
Thanks
Tax Professional: DanielleCPA, Certified Public Accountant (CPA) replied 1 year ago

You're welcome. I'm glad to help!

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DanielleCPA
DanielleCPA
DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 794
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