Good evening,I am an Enrolled Agent with 9 years of professional tax
experience.I hate to be the bearer of bad news, but this is a very difficult penalty to have waived, especially if you have already utilized First-Time Abate within the last 3 years. I have heard some tax professionals have been able to obtain a waiver based on the same criteria as the small partnership
waiver (Rev Procedure 84-35), but that is a long shot. This may be your best bet, unless you can meet the IRS
's definition of "Reasonable Cause" as to why you were late filing the tax return
.I try to emphasize this to any S-Corporation clients that it is very important to file these returns on time, and/or get an extension
because of the high late filing fee.I am sorry I was unable to provide you with more positive news. If you have any other questions, please let me know. If not, please feel free to go ahead and rate
my answer (based on quality...if possible!) Thank you, ***** ***** a good evening.