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Finance
Obtaining Relief for the Most Common IRS Penalties
Course Description

Taxpayers hate paying IRS penalties. Unfortunately, most taxpayers with an IRS penalty do not request relief or are denied relief because they do not follow some basic do’s and don’ts.

The IRS uses penalties to encourage us to follow the rules and remain in compliance – and it uses them a lot. Each year, the IRS assesses tens of millions of penalties totaling billions of dollars. But the IRS also provides several options to get penalties removed, or abated, for people who qualify.

Common IRS penalties:

There are over 150 different IRS penalties for late filing, late payment, return errors, and other noncompliant activity. However, the three most common IRS penalties are related to late filing and late payment of taxes and make up 95% of all assessed penalties:

  • The failure to file penalty: 5% per month on the balance due, maximum of 25%.
  • The estimated tax penalty: equivalent to the interest lost by not having sufficient withholding or paying estimated taxes throughout the tax year.
  • The failure to pay penalty: 0.5% per month of balance due, maximum of 25%.

IRS penalties is the most common post-filing issue.  In this course, tax professionals will understand the most common penalties assessed and the options for obtaining penalty relief including requesting and appealing penalty non-assertion and penalty abatement requests.  An in-depth discussion of common penalty abatement reasons is provided including how to apply first time abatement and reasonable cause.

Highlights:

The major topics covered in this course include:

  • The five types of penalty relief
  • Using First-time penalty abatement
  • Reasonable cause abatement for late filing, late payment, and accuracy penalties
  • How to request abatement
  • The importance of Appeals and how to appeal adverse penalty abatement determinations
  • Constructing an effective penalty abatement request
  • Best practices and tips on getting abatement


Learning Objectives

    • Identify the most common IRS penalties.
    • Describe the five reasons the IRS abates penalties.
    • Determine which penalty abatement method is best for the most common penalties.
    • Define the elements of reasonable cause and explain how they apply to late-payment, late-filing, and accuracy-related penalties.
    • Draft an effective penalty abatement request.
    • Determine what documents to attach to a penalty abatement request.
    • Appeal a penalty abatement request denial. 
    Live Q&A session will be held after the event.

Credits and Other information
  • IRS CPE Credits: 2.0
    • Location: Virtual/Online
    • Delivery method: Group Internet Based
    • IRS Course ID: 
    • Attendance Requirement: Yes
    • Case Studies and Live Q&A session with speaker

Who Should Attend?

  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Tax Attorneys
  • Tax Compliance Managers
  • Other Tax Preparers
  • Accountants
Speaker
Jim Buttonow, CPA, CITP, has been a leader in helping taxpayers and tax professionals resolve tax problems with the IRS.

For 19 years, Jim worked at the IRS in various compliance enforcement positions. Since 2006, Jim has been in private practice and tax and accounting software development. Jim consulting practice focuses on the areas of tax controversy and tax administration. Jim led product development and marketing for a successful software company that developed tax problem software for tax professionals. This software is currently being used by thousands of tax professionals and businesses in the United States.

Jim has been an IRS partner in improving IRS operations and post-filing service to taxpayers. Jim served as chairperson of the IRS Electronic Tax Administration Advisory Committee (ETAAC) in 2015 and 2016 during which ETAAC played a central role in promoting the IRS digital strategy to develop transformative technology solutions to systemic challenges in tax administration. Jim also served as the North Carolina representative on the IRS’ Taxpayer Advocacy Panel (TAP) from 2020-2022.

Jim regularly speaks on areas of tax administration and problem solving to national associations and has testified before Congress in areas of tax administration. He has also published many articles in industry publications. In his articles, Jim focuses on delivering practical insights, advocating for IRS transparency and efficiency, and proposing innovative large-scale solutions for taxpayers and tax professionals.

Jim currently authors CCH’s Tax Problems and Solutions Handbook, a publication aimed at helping tax pros work more effectively in post-filing matters and resolving their clients’ most common tax problems

Reading: Ut enim ad minim veniam

14 minutes 2 questions

Video: Greetings and introduction

15 minutes

Audio: Interactive lesson

7 minutes 3 questions

Reading: Ut enim ad minim veniam

22 minutes

Reading: Ut enim ad minim veniam

14 minutes

Video: Greetings and introduction

15 minutes

Audio: Interactive lesson

7 minutes 2 questions

Reading: Ut enim ad minim veniam

22 minutes

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  • Eleanor Fant

    July 14, 2022

    So I said lurgy dropped a clanger Jeffrey bugger cuppa gosh David blatant have it, standard A bit of how's your father my lady absolutely.

  • Shahnewaz Sakil

    July 17, 2022

    David blatant have it, standard A bit of how's your father my lady absolutely.

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Overview:
  • Speaker : Jim Buttonow
  • Duration :120 Minutes
  • Date :04/16/2025
  • Time :1pm ET / 12pm CT / 11am MT / 10 am PT

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