What is an IRS Penalty Abatement? A Tax Attorney Explains

The IRS can assess stiff penalties when tax returns are not filed timely, certain forms are not filed with the IRS and/or when tax is not paid timely. That being said, the good news is, if a taxpayer can establish causation, what the IRS calls “Reasonable Cause” portions or all of the penalties may be abated or waived by the IRS. Although a taxpayer may qualify for the first time abatement, an abatement on multiple tax years or periods will generally require a formal abatement request be submitted to the IRS. If you are considering filing a penalty abatement with the IRS, you may want to discuss your circumstances with an experienced tax attorney who has submitted penalty abatement requests on behalf of their client.

Get in touch with a tax attorney at the McGuire Law Firm in Columbus, Ohio for a free consultation.