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client received IRS letter


WITAXLADY

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had him bring it in - it was for a $6.00 owed and $350 interest and $350 penalty for non-payment from 2012!

How do you ask for that to be abated? I did not do his taxes then so I have no clue what his taxes looked like - from the last 3 years - he does gravel work so files late after summer when he has money and pays then so I cannot ask saying paid timely?

D

 

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All joking aside, the numbers look to be way out of whack.    Six dollars at 6% would double in 12 years.  The late payment penalty  of 0.5 %/m maxes out at 25%. There one of two possibilities;  the amounts were miscalculated; or, they are related to something else, such as estimated tax penalty.

Before doing anything else, I suggest that a copy of the Account Transcript be obtained for that year.  The transcript will show what the penalty is for and when it was applied.  

 

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