In this live zoom video conference students will learn about the the late filing penalty under S 6651(a)(1), and other penalties; the use of the First Time Abate Administrative Waiver to obtain abatement of late file, late pay, and late deposits penalties; the hierarchy of preparation and advice standards; and the use of Form 8275 (Disclosure Statement) to avoid taxpayer and preparer penalties in the first instance. After completing this program students will be able to employ various strategies to extricate taxpayers from various penalties and to avoid taxpayer and preparer penalties by using Form 8275. This program is group discussion friendly, and questions are encouraged during the presentation. Ideal for CPAs, EAs, and CFPs.
