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
Learning
objectives:
By
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
related - Fraud
- Understatement
of valuation - Reporting
requirement - Failure
to pay - Pay
or deposit penalties
- Accuracy
- 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