IRS wants $7,000 for filing partnership return late

[worrywart2]

The IRS wants over $7,000 in penalties for filing our Form 1065 partnership return late! Our partnership is a musical trio and we don't net that much in a year.
The latest letter from the IRS is confusing because:
The matter has been sent to collections but they also say we qualify for First Time Abatement and possibly Revenue Procedure 84-35.
Please help me figure out what to do!!! I already wrote a letter asking for First Time Penalty Abatement and abatement for reasonable cause.

 

[tranquility]

The IRS wants over $7,000 in penalties for filing our Form 1065 partnership return late! Our partnership is a musical trio and we don't net that much in a year.
The latest letter from the IRS is confusing because:
The matter has been sent to collections but they also say we qualify for First Time Abatement and possibly Revenue Procedure 84-35.
Please help me figure out what to do!!! I already wrote a letter asking for First Time Penalty Abatement and abatement for reasonable cause.

I'd do what you should have done in the first place, get a tax professional. You could write a letter asking for an Abatement and you might very well get one. But, if you don't, there will be nothing you can do. Get a tax guy to do it right the first time as it could very well be abated in such a circumstance.

 

[davew128]

The letter told you what to do. What happened when you Googled first time abatement and Revenue Procedure 84-35? Tranquility's advice is spot on. In the future, don't file it late.