Training Course Syllabus:

Cancelling Penalties and Interest

Objectives of the Presentation

• Learn the rules on waiver of penalties and interest


• Review forms and procedures for requesting relief


• What are the requirements and procedures for First Time Abatement


• What are the factors for Reasonable Cause abatement


• Learn the procedures for requesting refund of paid penalties

Why Should you Attend

This session will provide an overview of certain penalties, including accuracy-related penalties, fraud penalties, understatement of valuations, reporting requirement penalties, failure to file, failure to pay, and failure to deposit and the circumstances under which penalties and interest can be abated. The session will focus on the IRS factors for Reasonable Cause abatement and the circumstances under which interest on the taxes can be waived. You will learn the forms and procedures used for requesting penalty and interest abatement (including the First Time Abatement for penalties).


You will also receive knowledge of the remedies available for resolving penalties and interest. The presentation will provide practical tips, procedures and forms for requesting penalty relief (both First Time Abatement and Reasonable Cause).

Seminar Summary:

When the IRS hits you or your business with a tax bill, it usually adds penalties and interest charges. These extra charges can be shocking-an old $7,000 tax bill could have $15,000 in penalties and interest tacked on to it. Some penalties, such as for late payments, are added automatically by IRS computers. Or, IRS personnel may impose penalties if you violated a tax code provision, such as filing a return late. (see full course description)

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