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Delinquent returns

Technical topics regarding tax preparation.
#1
taxcpa  
Posts:
187
Joined:
29-Apr-2014 6:47am
Location:
USA
Working with a relative (great) to get them compliant for 2016 and 2017.

2017 looks like it will work out OK, but 2016 will have a significant balance due. They are prepared to pay up.

What are my chances of getting any of failure to file failure to pay penalties abated? I haven't had one of these in a long while. Any magic words out there?
 

#2
PDACPA  
Posts:
6
Joined:
29-Jan-2015 2:22pm
Location:
United States
First Time Abatement should get them waived, but good luck getting through to the IRS. Once they penalties are assessed, have them pay any unpaid tax and interest and issue a letter requesting the abatement.
 

#3
ATSMAN  
Posts:
1109
Joined:
31-May-2014 8:34pm
Location:
MA
Whenever taxpayer is eligible under the First time penalty abatement program, I file a paper return with a cover letter requesting first time penalty abatement. 90% of the time this works and the failure to file penalty is waived and you are paying interest on balance due.
 


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