IRS Penalty Guide

Accuracy-Related Penalty

IRC §6662

This guide explains the Accuracy-Related Penalty, how the IRS calculates it, and what relief options are available — including First Time Abate and reasonable cause.

Penalty Rate

20% of the underpayment (40% for gross valuation misstatements)

Maximum: 20% of the underpayment (40% for gross valuation misstatements)

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Relief Options for This Penalty

Reasonable Cause and Good Faith (IRC 6664(c))

Adequate Disclosure (Form 8275 or 8275-R)

Substantial Authority for the position taken

How This Penalty Is Calculated

Example Calculation

If you understate your income by $20,000 and owe $4,400 in additional tax (22% bracket), the accuracy-related penalty is $4,400 × 20% = $880.

Several relief programs may apply to the Accuracy-Related Penalty. Upload your notice to see which ones fit your situation.

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Frequently Asked Questions

What triggers the accuracy-related penalty?

The penalty applies for: (1) negligence or disregard of rules/regulations, (2) substantial understatement of income tax (exceeds the greater of 10% of the correct tax or $5,000), or (3) substantial or gross valuation misstatements.

Is the accuracy-related penalty eligible for First Time Abate?

No. First Time Abate only applies to failure to file, failure to pay, and failure to deposit penalties. The accuracy-related penalty requires reasonable cause or adequate disclosure for relief.

What is negligence under IRC 6662?

Negligence includes failure to make a reasonable attempt to comply with tax law, failure to keep adequate books and records, and failure to substantiate items properly.

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What qualifies as reasonable cause to avoid this penalty?

Reasonable cause factors include reliance on professional advice, complexity of the issue, efforts to assess the correct tax, taxpayer education and experience, and any circumstances that prevented compliance.

Can disclosure on the return prevent the penalty?

Yes. Adequate disclosure of a position on Form 8275 (or 8275-R for regulation-contrary positions) can avoid the negligence component if the position has a reasonable basis.

What is a substantial understatement?

A substantial understatement exists when the understatement exceeds the greater of 10% of the tax required to be shown on the return or $5,000 ($10,000 for corporations).

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Disclaimer: This guide is for educational purposes only. It does not constitute tax or legal advice. Consult a qualified tax professional for advice specific to your situation.