Your client qualifies for a first-time penalty abatement if:

All required returns have been filed.

All tax payments, including estimated tax payments, have been made.

Your client has no penalties other than estimated tax payment penalties for the past three years.

All of the above.

Question

The two most common tax penalties are:

Failure to file and failure to pay.

Failure to pay and accuracy penalty.

Failure to pay and estimated tax penalty.

Estimated tax penalty and accuracy penalty.