Penalty Abatement Relief or Red Tape

Episode Summary:

Tax attorney Lance Drury breaks down IRS penalties, abatement processes, and navigating complex tax resolution strategies. Learn about failure to file vs. failure to pay penalties, requirements for first-time penalty abatement, and what constitutes "reasonable cause" for penalty relief.

 

Key Timestamps:

00:31 - Types of IRS penalties and calculation methods

02:24 - Understanding "reasonable cause" for penalty abatement

04:08 - Explanation of penalty abatement process

04:54 - Documentation requirements for reasonable cause claims

05:28 - Appeals process for denied abatement requests

09:03 - Current IRS challenges and processing delays

12:17 - Timing and qualification for penalty abatement

 

About The Show:

“Resilience and Resolve” with Lance Drury delivers expert insights on tax resolution, IRS negotiations, and practical solutions for tax-related challenges. With offices across Missouri, Illinois, Kentucky, Tennessee, and Texas, Lance Drury provides comprehensive tax resolution services backed by over 20 years of experience.