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First Time Penalty Abatement

December 15, 2013 by in category irs, Taxes tagged as , , , , ,

What is First Time Penalty Abatement? Back taxes owed to the IRS can be overwhelming — particularly when additional penalties and accumulating interest factor into the equation. The IRS assessed nearly 40 million penalties totaling a staggering $27 billion against taxpayers in 2012 alone. Thanks to the little known First Time Abate (FTA) policy, however, […]

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