In this month’s episode, I discuss how to legally reduce IRS penalties.
Additional Resources:
- IRS Penalties (Overview)
- Failure to File Penalty
- Failure to Pay Penalty
- Accuracy Related Penalty
- Failure to Deposit Penalty
Applicable Law:
- Failure to File a Tax Return — 26 U.S. Code § 6651
- Accuracy-Related Penalty — 26 Code of Federal Regulations § 1.6662-2
- Failure to Make Deposit of Taxes — Internal Revenue Code § 6656
- Failure by an Individual to Pay Estimated Income Tax — Internal Revenue Code § 6654
Referenced Form
Use Form 1040-ES to figure and pay your estimated tax.
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