Get IRS Instruction 843 2013

What Is Form 843: Claim for Refund and Request for Abatement? Form 843: Claim for Refund and Request for Abatement is a multipurpose tax document issued by the Internal Revenue Service (IRS) used to make a claim for refund of certain assessed taxes or to request abatement of interest or penalties applied in error.

Criteria for Requesting an IRS Waiver of Tax Penalties and Interest. ... If you have the right reason, you may be able to request a waiver or tax penalties from the IRS. Believe it or not, the IRS isn't completely heartless and, for a government agency, it can actually make sense once in a while.

There Is No Interest Relief The IRS does not provide relief from interest charged in cases of reasonable cause or first-time penalty relief. It must charge interest by law so you will continue to accrue interest until you have paid your account in full.

The IRS recently announced it would waive the penalty for any taxpayer who paid at least 80% of their total federal tax obligation during the year.

Reasonable Cause for Penalty Abatement. The IRS takes penalty abatement requests on a case by case basis. ... To qualify for reasonable cause, you basically have to convince the IRS that you had a legitimate reason for not paying or filing on time. You also have to prove that you were exercising ordinary care and prudence.

If you owe the IRS a balance, the penalty is calculated as 0.5% of the amount you owe for each month (or partial month) you're late, up to a maximum of 25%. ... Now, the late filing fee also maxes out at 25% of the unpaid balance, but the late payment fee can keep running, up to a combined total of 47.5% of the unpaid tax.

Avoiding the underpayment penalty There are a few ways to get around the tax underpayment penalty. First, you can meet one of two estimated tax-filing safe harbors. Pay estimated taxes that are the lesser of 100 percent of your prior year's tax liability or 90 percent of your current year's tax liability.

Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and refundable credits, or if they paid withholding and estimated tax of at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is ...

The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent of their total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or a combination of the two. The usual percentage threshold is 90 percent to avoid a penalty.

The typical penalty is 0.5 percent of the total amount you owe calculated for each month you haven't paid it [source: Bankrate]. ... You then subtract any withholdings, payments and taxes. You may be required to pay a penalty on an outstanding amount. Taxpayers who have underpaid are not always penalized.

The IRS recently announced it would waive the penalty for any taxpayer who paid at least 80% of their total federal tax obligation during the year.

How do I get a new one? If you lost your refund check, you should initiate a refund trace: Call us at 800-829-1954 (toll-free) and either use the automated system or speak with an agent.

How do I replace a lost or damaged tax refund check? For damaged tax refund checks, please contact the IRS or your state tax agency, as appropriate. If you lost your IRS refund check (or failed to cash it in before the 1-year expiration date), call the IRS at 1-800-829-1954 to initiate a refund trace.

It usually takes 1-3 weeks for your bank to send the deposit back to the IRS and reissue a check.

According to the IRS, a tax refund check is good for one full year from the date on which it was issued. It expires on the last day of the 12th month from the month you get the check. Once that year-long period has elapsed, banks consider the check void.