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Reply to "IRS penalty- Settle or proceed to litigation? "
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[quote=Anonymous]OP: I am NOT offering legal advice. In general, the typical abatement standards do not apply in a situation in which one fails to timely file a 3520 tax form. An argument can be made under a "reasonable cause" standard if seeking to be excused from the penalty. What constitutes "reasonable cause" for failure to timely file a 3520 is unclear. If the recipient was mentally incapacitated during the normal reporting period (maybe in a coma due to a car accident or incapacitated due to a health matter such as a stroke ?). Ask your tax attorney about the "reasonable cause" standard and whether or not there is a reasonable basis for raising this claim. Still perplexed by advice which you have received thus far. However, I am not qualified to give any legal advice in this manner and nothing that I have written is intended to be legal advice--just points that I would ask a qualified, experienced tax attorney.[/quote]
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