Irish tips to reduce/eradicate pension tax

Tips to reduce pension tax, ruduce taxThe first and the most important tip is that you need to come clean. People who do not file their returns and pay the taxes on times are not taken lightly by the IRS. They can prosecute the cheats and can get you to stay in jail for as long as a year.

Waiting for a long time is not a good idea as it will only lessen your chances of getting penalty abatement. If the tax return is not filed by you, it will be done by the IRS. If there is a substitute for return, you will not be able to get the credit for deductions like exemptions for children, spouses, taxes and interests on homes and the expenses related to business. If you want to qualify for a tax relief, you will have to provide with a reasonable cause. There are some guidelines regarding getting the abatement for IRS.

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