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Penalty Abatement LifeBack Tax
Penalty abatement is an abatement of the penalty due to late taxes, and interest accrued on the penalty for the tax year. Please note: Generally interest is never abated but for rare occasions. If someone tells you that interest can be abated, it would need to be confirmed. Only the interest on the penalty can be abated. Most states offer penalty abatement but the rules for each state can be different. Most states will not abate any penalties until the original tax is paid in full and some will abate penalties if the IRS has approved any abatement for a tax year.
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