First-Time Penalty Abatement: Your IRS Reset Button

In this episode of The Wealth Planning Podcast, Tax Attorney and Wealth Advisor Anthony Brister breaks down one of the IRS’s best-kept secrets — the First-Time Penalty Abatement (FTA). If you’ve ever been hit with tax penalties for filing late, missing a payment, or falling behind on payroll taxes, this simple IRS provision could save you thousands. Anthony explains what the FTA is, how it works, who qualifies, and how to request it — whether you’re an individual taxpayer or a business owner. Learn how one of his clients got $14,000 in IRS penalties completely wiped out, and how you can use this same strategy to get a financial reset. 💡 Don’t give away money you don’t owe — learn how to ask for what you qualify for.   Timestamps 0:00 – Welcome to The Wealth Planning Podcast 0:19 – What is the First-Time Penalty Abatement? 0:48 – Real client story: $14,000 in penalties erased 1:44 – The IRS’s “hall pass” explained 2:40 – Why the IRS doesn’t advertise this 3:11 – Three ways to request a First-Time Abatement 4:00 – Bonus tip: Refunds after you’ve already paid 4:25 – Eligibility for individuals and businesses 4:49 – Life happens — and the IRS offers grace 5:09 – Don’t pay blindly: Check if you qualify 5:20 – Final thoughts and how The Brister Law Firm can help   If you’re facing IRS penalties, don’t pay more than you have to. 👉 Schedule a Discovery Call with The Brister Law Firm today to see if you qualify for penalty relief and to build your tax strategy for the future.   Book a 15-Minute Discovery Call with Our Team: https://calendly.com/admin-jhf8/15min   Whether you’re facing a legal challenge or need guidance with tax and estate planning, we’re here to help.   Visit Our Website for More Information: https://www.bristertaxlaw.com/   Get to Know Our Team: https://www.bristertaxlaw.com/our-team   Follow Us for Legal Tips and Updates: LinkedIn: https://www.linkedin.com/company/the-brister-law-firm-pllc/ Instagram: https://www.instagram.com/bristerlawfirm/ Facebook: https://www.facebook.com/profile.php?id=100090662891712   #TaxAttorney #WealthPlanningPodcast #IRSPenaltyRelief #TaxStrategy #FirstTimeAbatement #BusinessTaxes #TaxTips #AnthonyBrister #BristerLaw #WealthBuilding