You are viewing a single thread.
View all comments
9 points

The IRS has what is called a first time abatement of penalties. So if this is the first time in a 3 year span you owe you can have the penalties (not interest) waived.

permalink
report
reply
2 points
*

With no other realized penalty for the individual? Nothing indirect?

permalink
report
parent
reply
3 points

It’s the failure to file and failure to pay penalties. The tools we have do a 3 year lookback from the tax year in question for these two penalties and if they don’t exist in those three years we can abate any and all of those penalties that would accrue for that tax year.

permalink
report
parent
reply
1 point

Wish I’d known this. One year we forgot one of our W2s.

permalink
report
parent
reply
1 point

I mean as long as it’s been less than two years you can get back any payment of penalties to the IRS.

permalink
report
parent
reply
1 point

I believe it was my 2021 taxes (meaning I filed in 2022). Think I still have a shot? I don’t remember how much it was but it was definitely more than zero.

permalink
report
parent
reply

Asklemmy

!asklemmy@lemmy.ml

Create post

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it’s welcome here!

  1. Open-ended question
  2. Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
  3. Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
  4. Not ad nauseam inducing: please make sure it is a question that would be new to most members
  5. An actual topic of discussion

Looking for support?

Looking for a community?

Icon by @Double_A@discuss.tchncs.de

Community stats

  • 7K

    Monthly active users

  • 3.7K

    Posts

  • 82K

    Comments