Cancelling IRS Penalty and Interest Assessments

EVENT DATE:

Jul 21,2021

PRESENTER(s): Daniel J. Pilla

01:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes

DVD ($159.00)

Web Download ($159.00)

e-TRANSCRIPT ($159.00)

Web Download + e-Transcript ($259.00)

DVD + e-TRANSCRIPT ($259.00)

Quantity

Webinar Instruction will be emailed on your registered email address 3 days prior to webinar
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Web Download / e-Transcript will be shared in 7 working days from the date of webinar

This program has been approved IRS CPE Credit 2(Taxes)

IRS penalties and interests increase the bill every day if your taxes are outstanding after the filing deadlin. Taxpayers are liable for the additional penalties and interests on the entire outstanding amount even if they have qualified for a tax debt payment plan and have started to make payments. These penalties can add as much as an additional 25% to a taxpayer’s IRS bill. Also, the federal agency charges an additional penalty of 5 per cent on taxes that have not been filed.

Penalty abatement is a technique that tax practitioners can utilize to help their clients reduce their tax debt or even entirely cancel penalties and interests they owe to the IRS. The trick is to convince the IRS that your client was unable to pay the taxes due to what the IRS tags a “reasonable cause.”

If a practitioner or taxpayer can justify that reasonable cause led to delay in tax payment, there are good chances that the IRS may forgive a portion or the entire penalty charged on your tax debt. Remember that IRS is softer on failure to pay penalties than failure to file penalties. The purpose of penalties and interests are to encourage and motivate taxpayers to pay their taxes on time and it must be considered as such.

Participants will understand:

Abatement of interest
Avoiding the understatement of tax penalty
Various types of penalties:
Accuracy related
Fraud
Understatement of valuation
Reporting requirement
Failure to pay
Pay or deposit penalties
Rules on waiver of penalties and interests
Various forms and procedures for requesting relief
First Time Abatement: Requirements and procedures
How an individual taxpayer qualifies for Reasonable Cause abatement
Procedures for requesting refund of paid penalties
Available administrative options

Credits and Other information:

Session Duration: 2 Hours

Case Studies and Live Q&A session with speaker
PowerPoint presentation for reference

Session learning level: Introductory
Delivery method: Group Internet Based
IRS Credits: 2 Tax Hours
IRS Course ID: PJGWS-T-00026-21-O

Who Will Benefit:

CPA
Enrolled Agents (EAs)
Tax Professionals
Attorneys
Other Tax Preparers
Finance professionals
Financial planners

Speaker Profile:

Daniel J. Pilla is a tax litigation consultant, premier proponent and advocate of taxpayer rights. For over three decades, Dan has been tremendously successful in his negotiations with the IRS. Regarded as one of the country’s premiere experts in IRS procedures, Dan provides people across the country with sound solutions to their tax-related problems. He has helped countless thousands of citizens solve personal and business tax problems they thought might never be solved. Furthermore, Dan’s proven techniques can effectively prevent IRS problems before they begin.

Dan is the author of over fourteen books, dozens of research reports and hundreds of articles. Dan’s work is regularly featured on radio and television as well as in major newspapers, leading magazines and trade publications nation-wide. His books have been recommended by prominent magazines and financial publications such as the Wall Street Journal, Money, Family Circle, Investor’s Business Daily. The Wall Street Journal ranked Dan's book, “The IRS Problem Solver”, as the number one tax book in America. Dan has written or contributed to major articles for Reader’s Digest, National Review, Reason, USA Today Magazine and others.