IRS Penalties and Abatements

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.

Who should attend:
CPAs, Enrolled agents, Attorneys, Finance
professionals, Financial planners, Tax Professionals


the end of this course, the participant should be able to: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.

Course Content:

  • Various
    types of penalties:

    • Accuracy
    • Fraud
    • Understatement
      of valuation
    • Reporting
    • Failure
      to pay
    • Pay
      or deposit penalties
  • 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