he did not inform me of this and the first info i got was a demand by the service for a large penalty and interest. The tax is paid. what can i do??? help??? is this penalty abateable?
2007-04-20 18:20:21 · 3 answers · asked by cervicaldisco 1 in Business & Finance ➔ Taxes ➔ United States
Penalty for late payment, and the interest, are yours - that wouldn't have been any different if the extension request had been sent on time. An extension is to file, not to pay.
You might ask your accountant to pay the penalty for late filing, if it was his or her mistake.
It's probably not abateable with the IRS.
2007-04-20 18:27:44 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
When did you actually file your return and pay your tax?
Have you been late before?
Depending on your answers, you may ask IRS to abate the penalties and interest and they may well do it.
BUT if the answers aren't appropriate, don't waste your time.
2007-04-21 06:21:26 · answer #2 · answered by stevejodem 2 · 0⤊ 0⤋
It may be negotiable. It does not hurt to try. However, where you not concerned when you knew you owed money and yet you did not pay the money with the extension?
I would ask the accountant to pay the penalties if it was his mistake
2007-04-21 01:24:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋