Have you ever received a penalty from the irs?

Many people don't realize that if you've received a penalty from the IRS, whether it's a penalty related to your business or you as an individual, that it can be waived. This waiver (or abatement as its referred to at the IRS) is available under the First Time Penalty Abatement Policy.

You may qualify for administrative relief from penalties for failing to file a tax return, pay on time, and/or to deposit taxes when due under the Service's First Time Penalty Abatement policy if the following are true:

• You didn’t previously have to file a return or you have no penalties for the 3 tax years prior to the tax year in which you received a penalty.

• You filed all currently required returns or filed an extension of time to file.

• You have paid, or arranged to pay, any tax due.

Penalty Relief Due to First Time Penalty Abatement or Other Administrative Waiver | Internal Revenue Service

"Even if you've paid the penalty, you can go back and get it waived and refunded. Taxpayers can request abatement of a penalty three years after the return is timely filed or two years after the penalty has been paid. If a taxpayer has not paid their penalty, they can request penalty abatement up to two years after the penalty was paid". IRS Penalties and Penalty Relief - IRS Mind

For more information visit the IRS website Penalty Relief Due to First Time Penalty Abatement or Other Administrative Waiver | Internal Revenue Service