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

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    #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
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    #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.


    Penalty Relief for Reasonable Cause | Internal Revenue Service
    https://www.irs.gov/businesses/small-businesses-self-employed/penalty-relief-due-to-reasonable-cause
    Some types of penalties are eligible for penalty relief, including the penalties for failure to file or pay on time, or for the failure to deposit certain business taxes as required. You may qualify for relief from penalties if you made an effort to comply with the requirements of the law, but, due to circumstances beyond your control, were unable to meet your tax obligations.
    "Dude, you are correct" Rapid Robert

    Comment

      #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.
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