Are Form 843 Claiming 2011-2023

Instructions and Help about Are Form 843 Claiming

IRS penalty abatement what is it and how do you get it well you know IRS penalty abatement is something that needs to be looked at and just about every case in every IRS problem resolution case unless of course you're going to resolve the case either through full payment in which case well apparently well if you think about it full payment you might still want to do penalty abatement bankruptcy so if you're gonna discharge the entire liability including the penalties then penalty abatement probably doesn't make a whole lot of sense and so you probably wouldn't want to bother with it then in the other the third option in which penalty abatement would not be appropriate would be when you're going to settle the entire case through an accepted offer and compromise otherwise penalty abatement is a viable option probably for just about every IRS problem resolution case so if you're gonna enter into an installment agreement we're gonna make monthly payments or periodic payments or you're gonna be in hardship status in which the IRS indicates that they're not going to be seeking collection from you but that interest in penalties will continue to accrue it might be smart to go ahead and request a penalty abatement and again like I iterated a minute ago if you're gonna pay in full it might still make sense to request a penalty abatement now penalties can be used for both personal and payroll taxes the criteria for penalties to be abated is the reasonable cause standard now what does reasonable cause mean it means that despite the fact that the taxpayer exercised ordinary business care and prudence that something unforeseen occurred and therefore caused the failure to file or the failure to pay the tax to occur and...