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Each day the IRS asserts millions of dollars in tax penalties against taxpayers. Many of those penalties are subsequently abated because of quality representation by experienced practitioners. This class will cover the basics of supporting reduction of IRS tax penalties. Topics covered include reasonable cause for late filing and late payment, ordinary business care and prudence, and IRS preferred reasons for abatement of penalties. This course will also give a practical approach to seeking abatement of penalties.
Upon successful completion of this course, participants will be able to:
- Identify ways to reduce tax penalties asserted by the IRS against your clients
- Cite the methods to compute failure to pay, failure to file, and FTD penalties
- Identify the IRS preferred reasons for abating penalties
- List the methods to appeal penalties
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