Enrolled Agent Exam [Part 3] 67, Penalty Abatement and Reasonable Cause

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The three strict requirements for the First-Time Abate (FTA) administrative waiver. - How the core standard of "ordinary business care and prudence" is applied in reasonable cause cases. - The critical exam trap involving reliance on a tax advisor and the need for full disclosure. - Key differences between penalty abatement and the much more limited criteria for interest abatement. - The taxpayer's right to appeal a denied penalty abatement request. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep