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IRS Penalty Abatement or Forgiveness - Reducing or Removing IRS Interest from Your Tax Bill

Overview –

The Internal Revenue Service (IRS) Penalty Abatement program provides relief for taxpayers who have been penalized for failing to file their tax returns, failing to pay their taxes on time, or making errors on their tax returns. This program allows taxpayers to request a reduction or elimination of the penalties and interest they have incurred. To be eligible for IRS Penalty Abatement, taxpayers must have a valid reason for their failure to comply with the tax laws.

This webinar is an introduction to IRS Penalty Relief. Many penalties can be accrued by taxpayers that miss tax deadlines or payments. For compliant taxpayers, there can be administrative relief found through first- time penalty abatement. There is also leniency for taxpayers that have gone through a life circumstance known as a reasonable cause. This time, we’ll look at both first-time penalty and reasonable cause penalty abatement.


Areas Covered in this Training –

-Various types of Penalties
-To be able to define IRS penalty abatement.
-Rules on waiver of penalties and interests
-The qualifications for IRS first-time penalty abatement.
-How to request first-time penalty abatement.
-The qualifications for IRS reasonable cause abatement.
-How to request reasonable cause abatement.


Why Attend this Training –

Many taxpayers incur IRS penalties, fees, and interest due to a lack of knowledge. IRS penalties and interests increase the bill every day if your taxes are outstanding after the filing deadline. Taxpayers are liable for the additional penalties and interests on the entire outstanding amount even if they have qualified for a tax debt payment plan and have started to make payments. Remember that IRS is softer on failure to pay penalties than failure to file penalties.

This webinar will help participants know how to request relief from these penalties from the IRS.


Suggested Attendees –

-Tax professionals interested in learning how to abate penalties for taxpayers
-Non-credentialed tax professionals
-Annual Filing Season Preparers
-Certified Public Accountants (CPAs)
-Enrolled Agents
-Tax Attorneys
-Financial Professionals
-Financial Planners


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