2
votes
2answers
166 views
Penalties & statute of limitations - incorrect filing status
I just found out that a client for whom I have been preparing tax returns for 4 years was filing under the wrong filing status. Specifically, he wrote in his tax organizer every y …
5
votes
7answers
3k 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 ?
3
votes
7answers
276 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 …
4
votes
3answers
61 views
DIY Tax Software Insufficient
First, the requisite disclosures -
This is a Tax Court Summary Opinion so you can't use it as a precedent.
It does NOT specify a particular tax software, nor should it.
The case …
3
votes
3answers
752 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 …
2
votes
2answers
74 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 …
1
vote
2answers
197 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 …
