Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

I ahve recently had a penalty fining 5472,

Customer Question
I ahve recently had...

I ahve recently had a penalty for late fining for form 5472

Submitted: 2 years ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 32 minutes by:
3/2/2016
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,439
Experience: Extensive Experience with Tax, Financial & Estate Issues
Verified

I see that you are in the UK, but you are dealing with a US Tax issue, correct?

Have you bet hit with the $10,000. penalty?

If so, I have recently dealt with this situation and there are a couple of ways to approach it; however, you need to provide the specific details (not names or ID numbers) of the circumstances leading to the penalty assessment.

If you do that, then I can give you better direction to consider and/or assist you in drafting an abatement request whichever you wish.

Ask Your Own Tax Question
Customer reply replied 2 years ago
HI Stephen
HI i have filed late quite a few times and paid the associated fines penalties
Apart from that my affairs are usually upto dateI have now been hit with a 60k fine - 3 companies (with 2 people) civil penalty. my inital appeal has been rejected. My CPA is suggesting i get a tax attorney now. they stated a review of my account shows that i was subject to simillar penalties before - this is not true. i ahve paid late fees (which i accept) but never have had a late filing form 5472 fine beforePlease advice
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago

I think our comments crossed in cyberspace; please respond to my last transmission.

Steve G.

Ask Your Own Tax Question
Customer reply replied 2 years ago
Thanks Steve
Reviewing your answer
Meantime, i think have been charged twice
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago

Yes, you probably have because you opened two questions.

We can deal with that through customer service once we are through.

Steve G.

Ask Your Own Tax Question
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago

Do you have any additional follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

Ask Your Own Tax Question
Was this answer helpful?
Ask Stephen G. Your Own Question
Stephen G.
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,439
7,439 Satisfied Customers
Experience: Extensive Experience with Tax, Financial & Estate Issues

Stephen G. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,495 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,272 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
Filling 2555EZ tax form There is an item In you may use this
Hello Filling 2555EZ tax form There is an item In you may use this form section. “Are filing a calendar year return that covers a 12-month period.” I got greencard May 2017 should I use this form for … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
Tax credit on Build America Bonds. IRS Form number and help
Tax credit on Build America Bonds. IRS Form number and help using it. … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I am looking for my,2017 tax form to file. Social security
I am looking for my,2017 tax form to file JA: Which tax year are you filing for? Customer: social security tax for 2017 to file JA: Anything else you want the Accountant to know before I connect you? … read more
abci168
abci168
Principal
27 satisfied customers
Tax adviser filed taxes incorrectly using US-Spain treaty.
tax adviser filed taxes incorrectly using US-Spain treaty. Tax office says not valid and sent me a bill for 2 years a big amount, I cannot pay what are my options … read more
taxmanrog
taxmanrog
Master\u0027s Degree
944 satisfied customers
I need a tax ID for the Airforce. No my son has been
No my son has been detained at the Naval consolidation brig at Miramar … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Which form code do I use on the 7004 form to file an
Which form code do I use on the 7004 form to file an extension for an S corp … read more
Dr Arthur Rubin
Dr Arthur Rubin
Doctoral Degree
24 satisfied customers
What form Tennessee tax form would a California resident use
What form Tennessee tax form would a California resident use to report to Tennessee taxing authorities the income and expense relating to the rental of a single family residence located in Tennessee?… read more
abci168
abci168
Principal
27 satisfied customers
Filing a NR Canadian income on a US Federal 1040. Which form
Filing a NR Canadian income on a US Federal 1040. Which form is used to report this foreign income? only Box 16 reports income with numeral code 46 in box 14 and in box 15 is CAD. … read more
Mike-USACPA
Mike-USACPA
9 satisfied customers
Tax question: If I filed form 1040 online and it was
Tax question: If I filed form 1040 online and it was accepted and afterwards I filed form 4868 and it says accepted, does this extend the FBAR? Please provide IRS references. Thanks! Jonathan Wyman, C… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,129 satisfied customers
Individual Tax Id USA I need an USA Individual Tax Id. I am
Individual Tax Id USA I need an USA Individual Tax Id. I am a European citizen on a ESTA visa in the USA. Could I still get an USA tax id? Applying using form W7 form?… read more
taxmanrog
taxmanrog
Master\u0027s Degree
944 satisfied customers
Are beneficiaries required to report K-1 credits on the Form
Are beneficiaries required to report K-1 credits on the Form 1040, or is at our discretion? I'm using TAXACT software. The Form 1041 K-1 Final Year Deductions only shows credits on Line 11 A and C. Th… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Must file a 1041 what are the tax rates? estate got a1099r
estate got a1099r for a deferred annuitiy for $10,690.84 … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Can I secure a EIN (Tax ID) number prior to incorporating my
Can I secure a EIN (Tax ID) number prior to incorporating my business? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,129 satisfied customers
I am trying to complete Form 8962 for Premium Tax Credit and
I am trying to complete Form 8962 for Premium Tax Credit and have a question about Part II Lines 12-23 … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,027 satisfied customers
Years ago I received a federal tax id number. but never used
years ago I received a federal tax id number. but never used it. would it still be active … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have a federal tax lien filed 2015 with 2 assessment dates
I have a federal tax lien filed 2015 with 2 assessment dates in 2008 and 2009. you told me the both expire 2018 and 2019 respectively. how do I obtain an early release from the lien? I would like to p… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Is there a form to file with the IRS for tax periods that
Is there a form to file with the IRS for tax periods that have ran past the statute of limitations from the date of assessment … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
One of our contractors gave us the wrong tax id number for
one of our contractors gave us the wrong tax id number for 2015 and 2016 and they asking for us to correct. What form do we uses? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x