The IRS allows taxpayers with a clean compliance record to request first-time penalty relief under the First Time Abate (FTA) policy. FTA covers penalties such as Failure to File (FTF), Failure to Pay (FTP), and Failure to Deposit (FTD). While…
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To help struggling taxpayers affected by the COVID-19 pandemic, the IRS is providing penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late. This includes nearly 1.6 million taxpayers who will automatically receive…
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If you have been procrastinating about filing your 2021 tax return or have unfiled tax returns for prior years, you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions. (more…)
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Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination. (more…)
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Our Boca Raton office recently represented a taxpayer before the IRS Appeals Office seeking penalty relief and was successful in removing the penalty due to reasonable cause. (more…)
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