Penalty Games: Reducing IRS Penalties

Each day the Internal Revenue Service asserts millions of dollars in tax penalties against taxpayers. Many of those penalties are subsequently abated because of quality representation by experienced practitioners. This class will cover the basics of supporting reduction of IRS tax penalties.

The IRS asserts over 37 million penalties each year. Over 4 million of those penalties are later abated by the IRS. After this class you will know the most effective ways to convince the IRS to abate your clients tax penalties.

Session Highlights

The IRS penalty assessment process
Reasonable Cause defenses to penalties
Ordinary Business Care and Prudence standard for abatement
Internal Revenue Service Preferred Reasons for Abatement of Penalties
A practical approach to seeking abatement of penalties
The IRS first time abatement procedure