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MT online Form 843: What You Should Know

Filing of Form 843: May 19, 2023 — Form 843 must be filed, on or before its due date, before claiming any abatement for 2018. Form 843 does not become effective until the IRS sends notification of a decision on a penalty abatement request (Form 843) to the taxpayer (or other taxpayer identified). If it is impossible to send notification by the time of filing Form 843 form, IRS will mail it to the taxpayer (or other identified taxpayer) If IRS does not receive a signed acknowledgement of the Form 843, it is a result of noncompliance with filing requirements for a tax penalty abatement. If IRS receives acknowledgement of Form 843, a tax penalty abatement will not be granted. If a Taxpayer Abuses IRS Abatement Process Jun 24, 2023 — IRS imposes a penalty for failure to file a claim for abatement on Form 843 within 3 months of the due date (for returns to be filed for the period January 1 to December 31, 2019). If a taxpayer fails to file a tax return within the 3-month period, he or she is liable for (a) a penalty of 20% of the tax, interest, and penalties unpaid on that return; and (b) if he or she owed tax for the period (that is, the period beginning January 1, 2018, through December 31, 2019), tax for the period (that is, the period beginning January 1 through December 31, 2020). In addition, if the penalty for filing Form 843 is assessed at the same time as the assessment of any assessment of tax, interest, or penalties owed under a return to file, then that tax, interest, and penalty owed upon the assessment of the penalty will be refunded. For example, a penalty assessed at the same time as the assessment of one tax under a return to file will be refunded. For taxpayers reporting tax during the period beginning January 1, 2018, through December 31, 2023, the penalty for filing Form 843 may not exceed 40,000 for each Form 843 filed. For returns to be filed beginning January 1, 2018, through December 31, 2018, the penalty for filing Form 843 may not exceed 5% of the total taxes due for that period.

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