IRS Penalties and Abatements
Overview
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This course provides a focused overview of IRS penalties, including their types, causes, and abatements. Attendees will gain practical insights into the process of requesting abatements, with emphasis on first-time penalty abatements and specific circumstances such as late filing due to reasonable cause. Sample letters will be shared to aid practitioners in crafting abatement requests tailored to individual cases. This session is designed to equip tax professionals with actionable knowledge to support their clients effectively.
Highlights
- Overview of IRS penalties
- First-time penalty abatement eligibility and process • Steps for requesting abatement
- Late filing: reasons and reasonable cause
- Taxpayer's state of mind and its impact on penalties
- Sample letters for abatement requests
- Practical strategies for avoiding penalties
Prerequisites
Basic knowledge of IRS procedures
Designed For
CPAs, EAs, and other tax professionals
Objectives
At the end of this course, you will be able to-
- Identify the four primary types of IRS penalties.
- Analyze the criteria for first-time penalty abatements.
- Prepare requests for penalty abatements using IRS guidelines.
- Evaluate common reasons for late filing and their impact on penalties.
- Assess the taxpayer’s state of mind as a factor in penalty abatement cases.
- Apply sample letters as templates for abatement requests.
- Understand the documentation required to support abatement claims.
- Advise clients on preventing future IRS penalties.
Preparation
None
Leader(s):
Leader Bios
Charles Montecino
Charles K. Montecino is a Certified Public Accountant and Certified Tax Resolution Specialist with over 40 years of experience in public accounting. Over the past 25 years, he has specialized in helping clients resolve complex IRS issues, earning him the nickname "The Tax Problem Solver." He is known for his patient and non-judgmental approach, making his clients feel comfortable even when addressing tough tax situations.
In 2008, Charles was honored with the Top Practitioner Award by the American Society of Tax Problem Solvers.
Charles is licensed in both New Jersey and Pennsylvania and holds the Chartered Global Management Accountant (CGMA) designation. He is an active member of the AICPA, NJCPA, PICPA, and the American Society of Tax Problem Solvers.
When he is not helping clients navigate the complexities of tax law, Charles enjoys spending time with his wife, children, and grandchildren, watching the Philadelphia Phillies and Eagles, golfing, and fishing.
Non-Member Price $72.00
Member Price $52.00