IRS & Lesson Learned

Last week, here at work, I received a letter from the IRS. If you are anything like me, just seeing the envelope with "IRS Notice" gets your heart pumping a little faster.

Deep down, I had a feeling I knew what this notice was about. See during our reorganization time, I was late in filing our payroll deposit. I knew the IRS would come a knocking on this and rightfully so.

I opened the letter to see that NPCC was being assessed $381.30 in a penalty. Ouch. In reading through the letter and getting past the "warning" of additional penalties and interest if not paid by 9/17/2007, there's this section at the bottom of the letter stating "Removal of Penalties."

The IRS say's if you have reasonable cause the IRS would consider reducing or removing the penalties. That was my open door.

I wrote the IRS a letter laying out the reasons for my late filing and that I've never filed late in the past and I've taken steps to insure this doesn't happen again in the future.

I'm very pleased to say in the mail today was a letter from the IRS waving the $381.30 penalty.
If you've stayed with this post this long, thanks. The point of all this is to be proactive in all that you do. When you are wrong admit it. Don't try and hide it or make excuses. Take responsibility for your actions and learn.

Thanks IRS for the waived penalty and lessons learned.