Tag: IRS lawyers

Understanding IRS’ First-Time Penalty Abatement Policy

Tax Abatement Policy - with Nick Nemeth

Not many people know that if the IRS charges you or your business with additional penalties and interests, you can request the IRS for tax abatement. Individuals and business taxpayers can request an FTA (First-time penalty Abatement) for failure-to-file, failure-to-pay, and/or failure-to-deposit penalties for a single tax period. It is, however, important to prove a reasonable cause for the failure to compliance with the tax law.  An FTA was introduced to help first-time defaulters to have a clean compliance history. Continuing the discussion, the post provides basic knowledge to help you resolve IRS problems and get your tax penalties or

Read the full article…