Are you looking for an S corp Late Filing Penalty Abatement Letter Sample? Below, you will find examples of such letters that you can use as a reference. Feel free to modify them as needed to suit your specific situation.
Understanding the Issue
When an S corporation fails to file its tax return on time, it may incur penalties for late filing. However, in some cases, these penalties can be abated through a formal request to the IRS. This is where an S corp Late Filing Penalty Abatement Letter comes into play. By crafting a well-written letter explaining the reasons for the late filing and requesting penalty relief, the corporation may be able to avoid or reduce these penalties.
Example of S corp Late Filing Penalty Abatement Letter Sample
I am writing to request abatement of the late filing penalty imposed on our S corporation for the tax year [Year]. Due to unforeseen circumstances, we were unable to file our tax return by the deadline, resulting in the assessment of penalties.
We understand the importance of timely compliance with tax obligations and take full responsibility for the delay in filing. However, we believe that the circumstances surrounding our late filing warrant consideration for penalty relief.
Despite our best efforts to meet the deadline, [Explain reason for late filing, such as unexpected illness, natural disaster, etc.]. These unforeseen events significantly impacted our ability to file on time, and we are requesting leniency in light of these circumstances.
We have since filed our tax return and are committed to ensuring timely compliance in the future. We kindly ask for your understanding and consideration in abating the late filing penalties assessed against our S corporation.
Thank you for your attention to this matter. We appreciate your prompt review of our request and hope for a favorable resolution.
Sincerely,
[Your Name]
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