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Late Filing/Payment Penalties

Just a quick note.  Whenever you get a letter from the IRS saying that you owe penalties for late filing of your tax return (or late payment of the tax due), consider requesting that the penalty be waived.  The IRS has something called a First Time Abate program in which they will waive the penalty under certain circumstances.  There’s no guarantee, but it may be worth a few minutes to save yourself huge penalties.
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