435 | Tipped Finance | Barbara Sloan
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How to Avoid IRS Penalty Abatement Letters
If the IRS ever sends you a letter or notice that has a penalty on it, my strong advice would be to reply with what's known as like a request for abatement. I have seen anecdotally of course a 90 plus percent success rate with these penalty abatement letters. One of my favorite strategies when you do have a tax prepare is to have them write a letter of the amount of money that you pay out in tip outs to deduct that from your income. That'll up the likelihood probably again anecdotally it's a 99% likelihood of that penalty being abated.
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