Qualifying for First-Time Abatement: Know How to Avoid IRS Penalties
Friday, 22 March 2024, 11:30
How to Qualify for First-Time Abatement:
First-time abatement is a process that could help you avoid IRS penalties for late tax returns or payments. If you meet specific criteria, such as having a good tax compliance history, you may be eligible for penalty relief.
Steps to Apply for First-Time Abatement:
- Review IRS notice for penalty details
- Contact IRS via provided phone number or fill out Form 843
- Appeal if abatement request is denied
Important Note:
If you didn't incur any penalties for the past three years and filed your returns on time, you may qualify for first-time abatement.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.