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IRS Penalties, Abatements, and Reasonable Cause

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC
IRS Penalties, Abatements, and Reasonable Cause

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00189-20-O)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0200)

1 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00189-20-O)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00189-20-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

Save your clients money on IRS penalties! There are many types of penalties the IRS can impose on taxpayers: failure-to-file, failure-to-pay, failure-to-deposit, estimated tax and accuracy-related are some of the most common ones. But the full list includes many more. Join us as we sift through IRS penalty types and explore ways for you to provide excellent representation for your clients with IRS penalty issues. We'll guide you through what to expect during the IRS penalty process and reveal specific how-to methods using relevant court cases and Internal Revenue Manual (IRM) guidelines.

The IRS issues over 220 million notices each year to taxpayers. The IRS also asserts millions of dollars of penalties against taxpayers daily. Many of those penalties are abated due to quality representation.If a tax client receives an IRS notice, they expect their tax professional to be able to work effectively with the IRS to identify and resolve their issue. Penalties from the IRS come in all shapes and sizes. There are over a thousand different types of IRS notices – but fortunately, most taxpayers receive many of the same type of notices that require action. 

This webinar will identify the most common, actionable IRS notices and the solutions available to resolve the tax problems related to the notice. In this webinar participants will learn about the most common penalties that can be assessed against a taxpayer as well as how to abate them, including First-Time Abatement, Reasonable Cause, and Form 843: Claim for Refund and Request for Abatement. This webinar will explain the many types of notices issued by the IRS , including how to appropriately respond to each, how to properly request abatement of penalties charged, current IRS responses to abatement requests and focus on how to reduce or remove these penalties.

Highlights Of The Webinar: 

  • Different types of IRS Penalties
  • "First Time Abatement (FTA)"
  • What is Reasonable Cause?
  • How to Write a Reasonable Cause Letter
  • Know the process of penalty Abatement

This webinar will help to the tax practitioners at all levels regardless of tax practice and Business Owners.

Learning Objectives

  • To identify the differences between the various kinds of penalties
  • To recall how the First-Time Abatement of Penalties works, what it means for the taxpayer, and which penalties it covers
  • To identify what Reasonable Cause is and the required criteria to argue for it
  • To recognize the step-by-step process for writing a Reasonable Cause letter to the IRS on behalf of your client

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

4.6

(1288)
65%
29%
4%
1%
0%

JN

Excellent webinar. Good to always refresh oneself of the IRS tax preparer penalties. Can easily forget how to protect yourself and your client.

RW

Fantastic webinar! The session met my expectations for attending. I did learn a lot from this presentation. A big thank you to Venar for sharing his knowledge, expertise, and time.

NC

The webinar covered very important information on penalties that is complicated but was made clear by this presenter.

RC

This class will tell you how much you do not know and how much more you need to know and places to start your research. Awesome!

HO

a very thorough breakdown of penalties for understatement of tax by the taxpayer and/or tax preparer. thanks

DK

The course made me aware of how important it is to pay close attention to the returns and ask more questions during the process.