IRS Penalties and Abatements

Instructor

Allison
McLeod

Penalty abatement is a technique that tax practitioners can utilize to help their clients reduce penalties and interest they owe to the IRS if the taxpayer can prove “reasonable cause.”

This informative and insightful webinar will provide you with some insider tips, practical steps and effective strategies to help your client manage IRS tax penalties and interest. Learn about various types of penalties that you may face and the various forms and procedures used for requesting penalty and interest abatement, including First Time and Reasonable Cause abatement. Plus, learn about the procedure to follow when requesting refund of paid penalties.

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Learning Objectives

Understand situations where penalties can be imposed.
Be able to utilize techniques for preventing or reducing any penalty assessments.
Ascertain when the First Time Abatement can be used.
Obtain a working knowledge of the procedure governing the request for refund.

Major Topics

Rules on waiver of penalties and interests
Various forms and procedures for requesting relief
First Time Abatement: Requirements and procedures
How an individual taxpayer qualifies for Reasonable Cause abatement
Procedures for requesting refund of paid penalties
Available administrative options

CPE Credits Available

2.2 CPE

2.2: Taxes

Things to Know About This Course

Course Level

Basic

Prerequisites

None

Advanced Preparation

None

Intended Audience

CPAs, Enrolled agents, Attorneys, Finance professionals, Financial planners, Tax Professionals

Provider

ACPEN