If you (or your corporation) file your tax return late or fail to pay your taxes on time, you face penalties—perhaps big penalties!

Late filing and late payment penalties are the most common penalties that affect small business owners. Let’s say that in today’s mail, you receive notice that the IRS has hit you with one of the penalties. What’s your first thought?

We can’t print that!

Okay, let’s say your second thought is to pay it. Don’t—at least not until after you read this article.

Why?

This article gives you a road map of the IRS mercy machine. It explains the keywords that you need to use. And it gives you some really easy and inexpensive ways to get the IRS to remove the penalty noose from your neck. ... Log in to view full article.