First-Time Abatement: A Solution to Avoid IRS Penalties for Late Tax Payments
Friday, 22 March 2024, 11:30
IRS Penalties: First-Time Abatement
We all make mistakes. Read on to see when the IRS might let you off the hook as far as penalties go.
Tax Return Deadline and Penalties
- Taxes are due on April 15.
- Failure-to-file and late payment penalties could apply.
First-Time Abatement Process
- Criteria for eligibility.
- What you need to know.
If it's your first time incurring penalties, the IRS may offer you leniency through first-time abatement.
Understand the process and steps involved to avoid tax penalties and consequences.
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.