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Types of Penalty Relief:
Reasonable Cause
Administrative Waiver & First Time Penalty Abatement
Administrative Waiver & First Time Penalty Abatement
Reasonable Cause is based on all the facts and circumstances in your situation. The IRS will consider any reason which establishes that you used all ordinary business care and prudence to meet your Federal tax obligations but were nevertheless unable to do so.
Administrative Waiver & First Time Penalty Abatement
Administrative Waiver & First Time Penalty Abatement
Administrative Waiver & First Time Penalty Abatement
The IRS may provide administrative relief from a penalty that would otherwise be applicable under the First Time Penalty Abatement policy.
Statutory Exception
Administrative Waiver & First Time Penalty Abatement
Statutory Exception
Tax legislation may provide an exception to a penalty. Specific statutory exceptions can be found in the penalty-related Internal Revenue Code (IRC) sections.