"Reasonable Cause" When Dealing with the IRS | Foodman CPAs & Advisors
To embed, copy and paste the code into your website or blog: On November 5, 2020, the IRS removed the Delinquent Information Submission Procedure Program from its Offshore Compliance Options Menu. Before the removal of this program, a US Taxpayer could file a “delinquent” international information tax return with what is known as a Reasonable Cause Statement from which the IRS could waive non-compliance penalties if a US Taxpayer was able to establish Reasonable Cause to the satisfaction of the IRS. The November 5, 2020 IRS update demonstrates that the IRS can change it position to...
Source: jdsupra.com