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IRS Penalties and Abatements (Z2-428)

100 Minutes
On demand - Video

On Demand - Video

2 CPE Credits in TX

OVERVIEW

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.

BENEFITS

  • Identify situations where penalties can be imposed
  • 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

HIGHLIGHTS

  • Various types of penalties: Accuracy related, fraud, understatement of valuation, reporting requirement, failure to pay, and 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 abatement
  • Procedures for requesting refund of paid penalties
  • Available administrative options

COURSE LEVEL

Intermediate

PREREQUISITES

None

INSTRUCTOR

Allison McLeod

Allison M. McLeod, CPA, LL.M., J.D.

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PRICING

$58.00 - Member

$78.00 - Nonmember

ADDITIONAL OPTIONS

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COURSE DEVELOPER

CPA Crossings

AREAS OF INTEREST