How Successful Are IRS Penalty Abatements?
Penalty abatement requests are fact driven. If you have reasonable cause for doing what generated the penalty, it can be abated. Normally, this is the late filing penalty. Late payment penalty is tougher because just not having the money isn’t a good excuse. If the penalty is abated, is all abated along with interest that accrues on the penalty. Interest is never abated unless IRS fails to perform a “ministerial act” which is something routine that does not require judgment. This rarely happens.
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