Penalty abatement is another way the Internal Revenue Service allows you to lower your total tax liability. - Penalty abatement means that, in exchange for you, the taxpayer who has a debt, agreeing to pay the original liability, the Internal Revenue Service will abate or erase the penalties. - However, this does not mean that the interest is abated. It will lower the interest because the total balance reduces, but all the penalties will be gone.
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Video instructions and help with filling out and completing Are Form 843 Penalties
