20Gauge
TB Fanatic
I thought I would do this just because.
Question, ever file late, fail to pay, forget a 1099 and get a letter from the IRS? There is a rather simple way to get the penalty waived or returned.
Yeah it is rather simple, but there are a couple of criteria you must meet.
1) Are you current in filing all your taxes?
2) Have you paid all taxes due or have a payment plan?
3) Have you asked or had asked for you, for a penalty abatement in the last 3 years?
If YES, YES and NO, then you can ask for a penalty abatement.
There are two ways to do this. The hard way....... call the IRS and ask for a "1st time penalty abatement for tax year XX". I say the hard way as they will never answer the phone and if they do, will be difficult.
The easy way is to file form IRS Form 843
What you need:
1) The CP2000 you got telling you that you still owed and how much.
2) Access to a computer so you can fill the form out on line and then print it. ( you will have to mail it )
What to do:
1) Fill out the names and address that were on the CP2000. If you and your wife, then both. Be sure to fill out the entire section as it applies.
2) State the year in part 1. It will be on the CP2000. So if it was for 2019, the range will be 2019 to 2019
3) Part 3 will be checked as income tax.
4) Part 4 Type of penalty will be noted on the CP2000, which usually is something like IRC6662(b)
5) Part 5a check reasonable cause and the date or best estimate of when you last paid
6) Part 6 check "1040"
7) This is important and is critical to get correct......
" we respectfully request that the "list they type of penalty per CP2000" penalty be abated based upon the irs's first time abatement administrative waiver procedures as discussed in IRM 20.1.1.3
8 ) Be sure to sign and date.
9) Make a copy for yourself
10) Mail it. It will take 6-12 months, but it does work.
I just got one back for a person who paid their taxes from 2013 off in 2020. Saved them $1,100.
Again if you paid a penalty, try it.
Hope that helps!
Question, ever file late, fail to pay, forget a 1099 and get a letter from the IRS? There is a rather simple way to get the penalty waived or returned.
Yeah it is rather simple, but there are a couple of criteria you must meet.
1) Are you current in filing all your taxes?
2) Have you paid all taxes due or have a payment plan?
3) Have you asked or had asked for you, for a penalty abatement in the last 3 years?
If YES, YES and NO, then you can ask for a penalty abatement.
There are two ways to do this. The hard way....... call the IRS and ask for a "1st time penalty abatement for tax year XX". I say the hard way as they will never answer the phone and if they do, will be difficult.
The easy way is to file form IRS Form 843
What you need:
1) The CP2000 you got telling you that you still owed and how much.
2) Access to a computer so you can fill the form out on line and then print it. ( you will have to mail it )
What to do:
1) Fill out the names and address that were on the CP2000. If you and your wife, then both. Be sure to fill out the entire section as it applies.
2) State the year in part 1. It will be on the CP2000. So if it was for 2019, the range will be 2019 to 2019
3) Part 3 will be checked as income tax.
4) Part 4 Type of penalty will be noted on the CP2000, which usually is something like IRC6662(b)
5) Part 5a check reasonable cause and the date or best estimate of when you last paid
6) Part 6 check "1040"
7) This is important and is critical to get correct......
" we respectfully request that the "list they type of penalty per CP2000" penalty be abated based upon the irs's first time abatement administrative waiver procedures as discussed in IRM 20.1.1.3
8 ) Be sure to sign and date.
9) Make a copy for yourself
10) Mail it. It will take 6-12 months, but it does work.
I just got one back for a person who paid their taxes from 2013 off in 2020. Saved them $1,100.
Again if you paid a penalty, try it.
Hope that helps!
