IRS notice 972CG - CVL Penalty - IRS Code Sec 6721 -

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • jonnytpb7
    Junior Member
    • Apr 2016
    • 4
    #1

    IRS notice 972CG - CVL Penalty - IRS Code Sec 6721 -

    business - "Nursing Home INC" 180 1099-Misc (box 7) forms.. -. ( late filing 1099-MISC 's for Year 2017)
    filed 40 days late - (originally due 1-31-2018) potential $18K penalty..
    looking for reasonable causes - to appeal..
    anyone had similar case... ? appreciate feedback
    Jonathan Thorne
    Tags: None
    • Dude
      Senior Member
      • Dec 2018
      • 361
      #2
      If this is a one off then you have a chance, if it is a chronic issue probably not. Whatever flowery language you use, it has to translate to circumstances beyond the client's control. Perhaps a key member of the bookkeeping/accounting department was ill? Was new software installed? Some kind of SNAFU has to be identified and explained.


      https://www.irs.gov/businesses/small...asonable-cause
      "Dude, you are correct" Rapid Robert

        Comment

        • New York Enrolled Agent
          Senior Member
          • Nov 2006
          • 1560
          #3
          I would suggest you look at the IRM Part 20 - in particular 20.1 the Penalty Handbook. Good discussion in the text as to what constitutes reasonable cause and what needs to be addressed in an abatement request.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...