First time abatement can remove IRS penalties

Name: First time abatement can remove IRS penalties
Duration: 61 s
Description: If you've paid taxes on time for 4-5 years, you can request a first time abatement to remove late filing and payment penalties.

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Owe penalties and interest on an IRS bill? Many people just pay it, but TJ explains how a first-time abatement lets you ask the IRS for a break if you've had a clean record for several years. He covers what qualifies, which penalties can come off, and what the IRS won't budge on.

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