• Economics
  • Published 2013

Requesting a First-Time Abatement Penalty Waiver

@inproceedings{Buttonow2013RequestingAF,
  title={Requesting a First-Time Abatement Penalty Waiver},
  author={Jim Buttonow},
  year={2013}
}
The IRS's first-time abatement (FTA) penalty waiver, although introduced 12 years ago, remains little known and often unrequested by qualifying taxpayers. It allows a first-time noncompliant taxpayer to request abatement of certain penalties for a single tax period. Individual taxpayers may request an FTA of a failure-to-file or failure-to-pay penalty Business taxpayers can request an FTA of those penalties or of a penalty for failure to deposit payroll taxes. Taxpayers may also qualify for a… CONTINUE READING