Thread by @roncaruthers

1. Little known IRS relief just for the asking!

If you're new in business, it is really, REALLY easy to get behind on taxes.

However, there is a little known rule called 'first time abatement' where they will waive the penalities IF you ask:

No reason required!

2. Here is how it works:

If you get behind on filing your taxes, they can assess you up to 25% in additional penalties

AND ANOTHER 25% for failing to PAY the tax.

However, you can request a 'First Time Abatement' without giving a reason as long as:

3. This can apply to Failure to File, Failure to Pay AND Failure to Deposit (if you have employees).

You can request this simply by making a phone call to the IRS and requesting First Time Abatement, and it will most likely be granted if you meet the following criteria:

4. You qualify if:

•he tax period ending date is after December 31,
2000,

You had no FTF, FTP, or FTD penalties asserted in the
prior three (3) tax years, and

You are in filing and payment compliance.

Hopefully you don't need this, but if you do, this will help... once

5. BTW, here is the Penalty Abatement Hotline at the IRS:

855-223-4017 extension 225.

Who looks out for you?

THIS guy.