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The IRS applies tax penalties automatically whenever certain issues arise, such as underpayment or a late filing. In 2022, the IRS assessed over $73 billion in penalties. Even taxpayers who “do not have a tax problem” have probably been charged penalties. Penalty abatement is one of the most sought-after services when taxpayers go looking for help. This program will cover how tax penalty abatement works for both the automatic first-time abatement and reasonable cause abatement, how to put together these requests and how to charge for this value-added service.
Objectives:
- Describe the first-time abatement program and when it applies.
- Illustrate reasonable cause for avoidance of penalties.
- Explain how to put together a reasonable cause request for abatement.
Level: Essentials
$39 for members and $99 for nonmembers
This webinar will take place April 10 at 2 p.m. Central.
This course is eligible for
one (1) CLM credit in the following categories:
CLM® Application Credit: 1 hour(s) of Organizational Development
CLM® Application Credit for Functional Specialists: 1 hour(s) in the subject area of Financial Management (FM) towards the additional hours required of some Functional Specialists to fulfill the CLM application.
CLM® Recertification Credit: 1 hour(s) in the subject area of Financial Management (FM)
*Please contact [email protected] for
information regarding continuing education credit.
Speaker:
Eric L. Green, JD, LLM, is a Managing Partner at Green & Sklarz, LLC, a boutique tax firm with offices in Connecticut and New York. Green is a nationally renowned tax expert and author/commentator of IRS civil and criminal tax matters. He is a past Chair of the Executive Committee of the Connecticut Bar Association’s Tax Section and is a Fellow of the American College of Tax Counsel. He is the Founder of Tax Rep LLC that serves as a coach for accountants and attorneys on building their own IRS representation practices and is the host of the weekly Tax Rep Network Podcast.