This session reviews abatement options for common penalties, including, but not limited to, the failure-to-file penalty, the failure-to-pay penalty, and accuracy-related penalties. Strategies covered include First Time Abate, reasonable cause, statutory exceptions, and §6751(b), a relatively new penalty abatement strategy. The intersection of statutes of limitations and penalty abatement is also discussed.

Learning Objectives

Describe common penalties, when they are assessed, and the proper amount.

Explain when a taxpayer can use the First Time Abate procedure.

Understand what constitutes reasonable cause and how to effectively advocate when asserting reasonable cause.

Understand when §6751(b) is applicable to a penalty and how it provides penalty relief.

Explain how the refund statute of limitations can limit penalty abatement refunds or credits.

What You’ll Receive 

Your webinar registration includes:

  • Downloadable course materials and/or implementation tools as appropriate. These materials are available for download when you log into the webinar.
  • The opportunity to listen to the optional question-and-answer session from the live webinar event.

Education Information

IRS Program Number NMVBP-T-00125-19-S

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Intermediate

Delivery Method: Self-Study

Field of Study: Federal Tax (IRS)

Credit hours: 2 IRS

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here to learn more about our education policies.

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