How to Get first-time penalty abatement from IRS?

first time penalty abatement

IRS has an administrative policy to waive the penalty for failure to file the tax return or pay taxes in time or deposit tax in time if certain conditions are fulfilled by the taxpayer

How to Use IRS First Time Penalty Abatement to Save on Taxes?

First time penalty abatement (FTA ) is an IRS procedure under which you do not need to give any “reasonable cause ” for requesting the waiver of penalty. This administrative procedure gives a discretion to IRS to waive penalty for one year only if certain conditions are fulfilled.So, you have requested for penalty abatement for …

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