Please note the information below is intended to provide generalized information that is appropriate in certain situations. It is not intended or written to be used, and it cannot be used by the receipient, for the purpose of avoiding federal tax penalties that may be imposed on any taxpayer. The contents of the information provided below should not be acted upon without specific professional guidance. Please call us if you have any questions.
If you received a penalty for failing to pay or file your tax return on time, the IRS may assess a penalty. You may be able to abate the penalty if you had reasonable cause for not paying or filing on time. Some reasons that the IRS may accept as a reasonable clause are:
- Return was mailed to the IRS within the prescribed time for timely filing, but through no fault of the taxpayer, was not delivered in accordance with normal mail handling.
- Return was filed with the wrong office
- Delay was caused by the death or serious illness of the taxpayer
- The return was not filed because of erroneous information given by an IRS employee, or the taxpayer requested forms and instructions from the IRS but they were not timely received.
If you have a tax penalty, you should consider speaking to a professional to see if you can have the penalty abated. Please contact us if you would like to learn more.