The first time penalty abatement waiver

1.65 million individuals qualify for first time penalty abatement.  It can be used for individuals, business, and employers for the failure to file, failure to pay, failure to deposit and a few other common penalties.  Most taxpayers and tax professionals do not know about it.  Here is my article in the Tax Adviser that explains how it works.  If you have any questions, please feel free to contact me.