First-time penalty abatement

Technical topics regarding tax preparation.
#1
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How likely are the penalties of a late filing Form 1041 to be waived based on the "first-time penalty abatement"?
 

#2
AlexCPA  
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A Shark On A Cash Reef
Just as likely as they are to be waived for any other return such as Form 1040.

Per IRM 20.1.1.3.3.2.1 (https://www.irs.gov/irm/part20/irm_20-0 ... 8826274112 -- emphasis mine):

First Time Abate (FTA)

IRS provides administrative relief from the following penalties if the qualifying criteria contained in this subsection are met:
Failure to file (FTF) penalty under IRC 6651(a)(1), IRC 6698(a)(1), or IRC 6699(a)(1),
Failure to pay (FTP) penalty under IRC 6651(a)(2) and/or IRC 6651(a)(3), and
Failure to deposit (FTD) penalty under IRC 6656.


Per IRC 6651(a)(1) -- emphasis mine:

(a)Addition to the tax

In case of failure—

(1)to file any return required under authority of subchapter A of chapter 61 (other than part III thereof)...


...which leads us to Title 26. INTERNAL REVENUE CODE Subtitle F. Procedure and Administration Chapter 61. INFORMATION AND RETURNS Subchapter A. Returns and Records Part II. TAX RETURNS OR STATEMENTS Subpart B. Income Tax Returns Section 6012. Persons required to make returns of income.

26 U.S. Code § 6012 -- emphasis mine:

(a)General rule
Returns with respect to income taxes under subtitle A shall be made by the following:

(3)Every estate the gross income of which for the taxable year is $600 or more;
(4)Every trust having for the taxable year any taxable income, or having gross income of $600 or over, regardless of the amount of taxable income;
Even more of my antics may be found on YouTube:
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