Thanks for your quick reply Joseph. I don’t have rationale for an abatement for cause and that’s why I am planning to request the first time abatement.
You indicate I should pay the penalty with my taxes. But this goes against others views (from searching this community) who have suggested to wait for the IRS penalty bill and then request abatement. I am unclear of which option is best and why.
You mention: “The failure-to-pay penalty will continue to accrue, until the tax is paid in full. It may be to your advantage to wait until you fully pay the tax due prior to requesting penalty relief under the Service's first time penalty abatement policy.” My intention is to pay the tax in full by the April deadline. So your comment above means there is no interest charged on the penalty itself, the interest is only based on the tax due?
