How Form 843 Basics 2011-2023

Instructions and Help about How Form 843 Basics

Thank you for joining today of the penalty abatement basics and techniques course just a little quick bit about me I've been doing this more than 25 years at this point and I get to share with you some of the knowledge I've gained over the years so you're certainly welcome to read this if you like I am an enrolled agent I get to teach and speak quite often and I'm really thrilled that you decided to go ahead and choose this as the course that you would like to sit in with so today what we're going to be covering is this is all overview course a basics course so we're gonna be touching high-level on things to do with penalties we're gonna go through a quick overview to discuss how penalties are calculated we're gonna be going through the Internal Revenue manual part 20 which deals just in penalties and interest give you an introduction on what the RCA is so at the end of this you should know what those abbreviations mean and then we'll talk about remedies such as the first time a bateman program and reasonable cost considerations so we're going to go ahead and dive right into this so quick overview of penalties first if we look back and say you know what's the whole purpose of this why do we have all these these penalties to begin with the reason is it's designed to encourage compliance from taxpayers we have a voluntary tax system but the bottom line is unfortunately it causes liability to increase it's substantial rates if we go back in time and look back in history we had very few penalties that existed you know 14 but now with every new bill and every new tax law that comes...