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 Form 5471 2018

5471 2018-2025 Form

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Instructions and help about 49958v 2018 foreign create

hello YouTube Jim Bakker here from authen bigger taxes sultans and i'm making this video today to go over a little bit about getting penalties abated for late filed form 54 72 and 54 71 now this relates back to code sections 1638 and 638 a B there's a bunch of subsections on there but basically if you don't file these forms or you follow them late most of you filed them late the IRS assesses these automatic penalties and they end up being civil penalties so it's a little bit different than late payment or late filing penalties for like regular tax returns which are IRS regular IRS penalties and these you work with the collections unit you call the IRS to work with them but with the civil penalties so is it it's simpler and it's a little trickier at the same time so as we bake these penalties we have to write letters to the to a different unit that has no phone so you if you if you have a reason let me take a step back to to be able to req

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