IRS Penalties and Abatements
Date: Monday, July 21, 2025
Instructor: Allison McLeod
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
Penalty abatement is a technique that tax practitioners can utilize to help their clients reduce penalties and interest they owe to the IRS if the taxpayer can prove “reasonable cause.”
This informative and insightful webinar will provide you with some insider tips, practical steps and effective strategies to help your client manage IRS tax penalties and interest. Learn about various types of penalties that you may face and the various forms and procedures used for requesting penalty and interest abatement, including First Time and Reasonable Cause abatement. Plus, learn about the procedure to follow when requesting refund of paid penalties.
Who Should Attend
CPAs, Enrolled agents, Attorneys, Finance professionals, Financial planners, Tax Professionals
Topics Covered
- Various types of penalties:
- Accuracy related
- Fraud
- Understatement of valuation
- Reporting requirement
- Failure to pay
- Pay or deposit penalties
- Rules on waiver of penalties and interests
- Various forms and procedures for requesting relief
- First Time Abatement: Requirements and procedures
- How an individual taxpayer qualifies for Reasonable Cause
Learning Objectives
- Understand situations where penalties can be imposed
- Be able to utilize techniques for preventing or reducing any penalty assessments
- Ascertain when the First Time Abatement can be used
- Obtain a working knowledge of the procedure governing the request for refund
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
