What are the reasonable causes to avoid 2290 penalties?
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Last modified 7/20/2020 8:38:51 AM EST |
Added by ExpressTruckTax Team
The IRS can waive your penalties if you can provide a reasonable cause as to why you did not file your Form 2290 (or pay taxes) on time.
First-time filers have a good chance of waiving off the penalty and interest dues. If you have filed your return and paid your taxes on time for the past 3 years and are filing (or paying taxes) late for the first time, the IRS will consider removing your dues.
There isn't a specific reason you can give to the IRS, but the IRS will consider any reason beyond your control. Here are a few reasons that will take into account:
- Accidents or any natural disasters.
- Death or severe illness of the family members.
- Check, or Money order couldn't reach the IRS.
- Inability to obtain any records.
The IRS will also require proof for the reasonable cause provided. The reason provided must be valid and true.