An underpayment penalty is a fee the IRS charges when you don't pay enough of your taxes throughout the...
The Shared Responsibility Payment (SRP) was a penalty for not having qualifying health insurance under...
An accuracy-related penalty is a charge the IRS might impose if you make errors on your tax return due...
The First-Time Abatement (FTA) is an IRS program that provides penalty relief for taxpayers who have...
A fraud penalty is a severe consequence imposed by the IRS when taxpayers intentionally try to cheat...
Reasonable cause is a valid justification that can excuse a taxpayer from penalties. It essentially means...
First-Time Penalty Abatement (FTA) is an IRS program offering a one-time reprieve from certain tax penalties...
The failure to file penalty is a charge by the IRS when you don't submit your tax return on time. Understanding...
The failure to pay penalty is a fee the IRS charges when you don't pay your taxes on time. Understanding...
An abatement is essentially a reduction or cancellation of a tax, penalty, or interest owed to the IRS...