Morton S. Winer, CPA

 

9933 North Lawler Avenue, Suite 410

Skokie, IL 60077

 

Phone: 847-676-8900

 

Website: www.msw-cpa.com

October 2022

October 2022 Q and A

Q-and-A2022

QUESTION:
The IRS fined me for making a late tax payment. Can I get them to waive the penalty?


ANSWER:
The IRS may provide relief from a penalty that would otherwise be applicable under its First Time Penalty Abatement policy.


You may qualify for a reduction of your penalty for failing to pay taxes on time if the following are true:


  • You didn't previously have to file a return, or you have no penalties for the three tax years before the tax year in which you received a penalty.

  • You filed all required returns or requested an extension of time to file later.

  • You have paid, or arranged to pay, any tax due.


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