As a U.S. taxpayer, one of the last things that you want to hear is that the Internal Revenue Service (IRS) has disagreed with your tax assessment and has imposed penalties for noncompliance. The good ...

Caren Weiner is the lead editor for consumer finance at Forbes Advisor. During her decades as a personal finance journalist, she has covered mutual funds, taxes, banking and health insurance ...

IRS penalties can create a lot of stress, especially when you feel unsure about what comes next. You might worry that one mistake could stay with you for years, but your situation may be easier to fix ...

The American Institute of CPAs (AICPA) has called on the Internal Revenue Service (IRS) to broaden and refine its first time abatement (FTA) penalty relief programme. In a letter to the IRS, the ...

The IRS should expand the first-time abatement (FTA) program to cover more types of tax and information-return penalties and allow taxpayers to reverse an automatically applied FTA when they ...

The IRS's First-Time Abatement program is a key penalty relief tool for taxpayers with a clean compliance history. For tax professionals, it offers the most direct way to resolve failure-to-file, ...

If you’ve been hit with steep penalties from the IRS, a penalty abatement can offer the financial reprieve you need to get back on your feet again. Jump to insight The three primary types of penalty ...

If the IRS has assessed a tax penalty on your account for the first time, don’t panic. You may qualify for a relief measure known as a first-time penalty abatement. Who Qualifies for the First-Time ...