The first-time penalty abatement ... didn’t file for an extension). The failure-to-pay penalty is levied when you don’t pay your tax bill on time. The agency can apply both the late-payment ...

Generally, the IRS charges a failure-to-file penalty on tax returns filed after the due date or the extended due date unless there’s a reasonable cause for late filing. This year, the deadline ...

If the IRS has assessed a tax penalty ... abatement, you may be eligible for other types of penalty relief offered by the IRS. People living in federal disaster areas who are late to file or ...

However, if you don’t have a recent history of filing your taxes late, it’s possible to apply for something called a first-time penalty abatement ... a notice or letter stating that the ...

call the IRS number on the letter you received. But read carefully — some notices include specific instructions and deadlines for disputing a penalty. If you have a valid reason for filing late ...

For taxpayers who owe money, the consequences of a late filing can be costly ... While the IRS allows for penalty abatement in cases of reasonable cause or first-time offenses, interest charges ...

Second, refunds and abatement of late filing penalties only applies to certain ... The Kiplinger Tax Letter Editor, answers questions on home sales and calculating tax basis in a home.

So, what happens if something slips through the cracks — missing a tax filing ... penalties by notice (a letter sent through traditional mail). The notice will contain critical information including: ...

By Ann Carrns About 1.6 million taxpayers who missed deadlines for filing their 2019 and 2020 federal income tax returns will get automatic refunds of late-filing penalties under a new Internal ...