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Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
October 2022
October 2022 Q and A
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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