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IRS to Waive a 2018 Penalty That Will Impact Over 400,000 Tax Filers

Good news may seem impossible when it comes to taxes and the IRS, but it arrives every so often. This is certainly true in 2019. Many tax filers will be pleased to learn of an exciting development involving 2018 federal taxes: a notable underpayment penalty has been waived, allowing over 400,000 taxpayers to breathe a […]

Alternatives to the IRS Penalty Abatement

The IRS penalty abatement is a great option for avoiding hefty tax fines, but unfortunately, it’s not available to all taxpayers. Thankfully, other options exist. These alternate paths allow you to avoid hefty penalties as you attempt to get a handle on your tax situation. Below, we examine a few of the most promising alternatives: […]

Biggest IRS Penalty Abatement Mistakes

You like to think of yourself as a responsible taxpayer, but somehow, you found yourself in hot water with the IRS. Thankfully, it may be possible to clean the slate and get a fresh start. The IRS penalty abatement program grants you a one-time get-out-of-jail-free card. IRS penalty abatement grants you forgiveness as a reward […]

Why You (Generally) Should Fight Your IRS Penalties

How did you first respond when you learned you had been targeted by the IRS? If you’re like many Americans, you immediately assumed that you would eventually need to pay up. This widespread belief perhaps explains a concerning 2012 Treasury Inspector General for Tax Administration report indicating that just eight percent of taxpayers have requested and […]

All You Need to Know About the IRS First-Time Penalty Abatement FTA Waiver

As a responsible taxpayer, you make every effort to file your return on time and pay any taxes owed. On occasion, however, life gets in the way. It’s only natural to fear the worst, but you might be able to avoid harsh penalties from the IRS. The first-time penalty abatement (FTA) waiver could be your […]

Will the IRS Automate Penalty Abatement?

Every year, millions of Americans fail to file or pay their taxes on time. These individuals face harsh repercussions, but those with a history of compliance sometimes qualify for penalty abatement. The process for securing abatement is notoriously confusing, but a solution may be just around the corner: an automated system. The Potential For an […]

Examples of “Reasonable Cause” the IRS Accepts to Grant Penalty Relief

Even the most responsible people can occasionally get into trouble come tax season. Thankfully, the IRS recognizes this, and more importantly, provides options for relief in select circumstances. Not sure if you qualify? Keep reading for insight into how the IRS establishes reasonable cause — and common examples of situations in which penalty relief may […]

Everything You Need to Know About the IRS First-Time Penalty Abatement Waiver

You didn’t file or pay your taxes on time, and now you’re panicking. Late taxes can prompt harsh penalties from the IRS — but it might not be so bad if you typically pay on time. The IRS offers a penalty abatement waiver to select taxpayers; read on to learn more: What Is the First-Time […]

IRS First Time Abatement Saves Client $20,000!

We have a new client who hired us last week concerning his 2006 IRS tax debt totaling over $82,000! He has a significant amount of IRS penalty and interest and wants us to mitigate some of the debt. We discussed several ways to mitigate the tax debt including IRS penalty and interest abatement, IRS first time […]