If the IRS has assessed a tax penalty on your account for the first time, don’t panic. You may qualify for a relief measure known as a first-time penalty abatement. Who Qualifies for the First-Time ...

For one reason or other, many taxpayers have failed to timely file a federal tax return or failed to timely pay their balance. Penalties can be significant, and often significantly add to the taxpayer ...

Penalty Abatement at the State and Local Level: Everybody makes mistakes. Some are honest, some are dumb, and some are even intentional. However, few things are more frustrating than a mistake that ...

Business vs. personal tax debt: trust fund taxes can create personal liability. IRS relief tools include installment agreements, offers-in-compromise, and CNC status. Penalty abatement may reduce or ...

Implemented by the Internal Revenue Service (IRS) in 2001 but infrequently used, it’s possible for certain taxpayers to avoid a tax penalty or get their money refunded from the IRS under its First ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. If you've ever been hit with an unexpected tax bill from the Internal ...