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| Issue Number: Tax Tip 2018-100Here's what taxpayers should know about penalty relief Taxpayers who make an effort to comply with the law, but are unable to meet their tax obligations due to circumstances beyond their control may qualify for relief from penalties. After receiving a notice stating the IRS assessed a penalty, taxpayers should check that the information in the notice is correct. Those who can resolve an issue in their notice may get relief from certain penalties, which include failing to:
The IRS offers the following types of penalty relief: Reasonable cause Administrative Waiver and First Time Penalty Abatement
Before asking for First Time Abatement relief, taxpayers can request that the IRS first consider the reasonable cause relief provision. This preserves access to the First Time Abatement, which taxpayers may only use every three years. Statutory Exception Taxpayers who received a notice or letter saying the IRS didn't grant the request for penalty relief may use the Penalty Appeal Online Self-help Tool. More Information: Share this tip on social media -- #IRSTaxTip: Here's what taxpayers should know about penalty relief https://go.usa.gov/xUazr Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |
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