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Are IRS penalties and interest piling up and making you feel trapped? You’re not alone — and you do have options. In this video, Dave Horwedel, EA and CEO of Torchlight Tax, breaks down the proven, legal strategies that can dramatically reduce or even eliminate your IRS penalties.
You’ll learn about:
🔹 First-Time Penalty Abatement – The IRS’s built-in “one-time pass” if you normally stay compliant.
🔹 Reasonable Cause Penalty Abatement – How solid documentation, timelines, and real-life circumstances can wipe out big penalties.
🔹 Offer in Compromise – Settle your entire tax debt (including penalties and interest) for less than you owe, if you qualify.
🔹 Partial Pay Installment Agreement – Pay only what you can afford until the collection statute expires.
🔹 Amended Returns – When incorrect tax filings inflate your balance, fixing the return can reduce everything — tax, penalties, and interest.
🔹 Other Legal Tools – Including Offers in Compromise based on doubt as to liability and, when necessary, Tax Court petitions.
Whether your penalties came from a simple mistake, a life emergency, or an old tax return that was wrong from the start, Torchlight Tax can help you sort it out and find the best path forward.
📞 Free Consultation:
Call 877-758-7797 or email info@torchlighttax.com
Our team will review your situation and help you determine which penalty-relief programs you may qualify for.
If this video helped you, please like, share, and subscribe to the Torchlight Tax YouTube channel for more expert tax guidance.
Disclaimer: This video provides general information and is not legal or tax advice. Always consult a qualified tax professional regarding your specific situation.