QUESTION:
The IRS fined me for making a late tax payment. Can I get them to waive the penalty?
ANSWER:
The IRS may provide relief from a penalty that would otherwise be applicable under its First Time Penalty Abatement policy.
You may qualify for a reduction of your penalty for failing to pay taxes on time if the following are true:
- You didn’t previously have to file a return, or you have no penalties for the three tax years before the tax year in which you received a penalty.
- You filed all required returns or requested an extension of time to file later.
- You have paid, or arranged to pay, any tax due.