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Don't just pay the penalty! You have to AT LEAST call to see if they'll forgive it as part of a first time abatement. Spoiler alert, most of the time they do! You just need to make sure you are in otherwise good standing. Most people don't even know this exists, and they pay millions in penalties every year unnecessarily. Remember we are not talking about tax forgiveness but rather how to waive the penalties assessed for paying tax late or filing your tax return late.
First time abatement: www.irs.gov/pa...
Reasonable cause: www.irs.gov/pa...
Reasonable cause IRS Practice Unit: www.irs.gov/pu...
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