IRS Penalties, Abatements, and Reasonable Cause

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

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 types 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.

This Online CE Tax Webinar covers the following key topics: 

• 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 tax practitioners at all levels regardless of tax practice and Business Owners.

Overview

• Why Does IRS Impose Penalties?

  2 mins
• Learning About First Time Abatement.

  14 mins
• What does IRS look at?

  20 mins
• How to write a Reasonable Cause Letter?

  27 mins
• What is the penalty abatement process?

  40 mins