This is an important post on the issue of “abatement of penalties” and “reasonable cause”. As always, pay attention to the comments!
We received the following comment from 30 Year IRS Vet:
This web site is a wonderful opportunity for people to vent about the new IRS initiative to focus on offshore compliance. I would guess that most people fall into one of two categories: those who are “off the grid” and do not file nor do they have any intention of becoming compliant with their US federal tax obligations and those who are sincerely attempting to figure this all out and determine what to do and then make a good faith effort to comply.
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