2
votes
7answers
104 views
IRA early withdrawal penalty
My client purchased a house(first time) and is getting the $8000 tax credit. However they took out of their retirement account about $25000 but only used $2000 for the purchase of …
2
votes
2answers
46 views
penalty abatement chances
A physician had a previous accountant start him with an S corp and a defined benefit plan.
Physician is the sole shareholder and no employees. tax returns were timely filed. Upon b …
3
votes
7answers
861 views
S-Corp return late filing penalty abatement
has anyone had success in having this penalty abated when the shareholders timely filed their personal returns with S-Corp k-1 income included ?
2
votes
3answers
321 views
Is there any way to void the penalty for filing a partnership return late?
I have a partnership return (5 partners) and it was filed late.
As a result, the IRS charged a $90 per person penalty.
What kind of reason I can use when I reply to the IRS notic …
1
vote
2answers
119 views
Failure to file. Any advice on how to reduce the penalty?
The failure to file penalty was approx $1,500 and feel that this is partly my responsbility. Any advise would be greatly appreciated!
The story (in a nutshell) is that we knew we …
