The 10th Circuit Denies Tax Abatement Based on Reliance on the Advice of a Tax Professional
The IRS is empowered to impose penalties upon taxpayers for various taxpayer deficiencies. For example, failure to timely file tax returns, failure to pay taxes, and for substantial underreporting of income. However, the IRS or the Tax Court can abate penalties upon a showing up reasonable cause and that the taxpayer acted in good faith.…
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