Tag Archives: IRS penalty waiver

Getting an IRS Penalty Waiver: What You Need to Know

In an effort to address the unprecedented burden of COVID and its financial fallout, the American Institute of Certified Public Accountants (AICPA) is advocating for the creation of a new tax penalty waiver. IRS Commissioner Charles Rettig may be skeptical of blanket penalty relief, but a few viable options are available for select individuals and […]

IRS to Waive a 2018 Penalty That Will Impact Over 400,000 Tax Filers

Good news may seem impossible when it comes to taxes and the IRS, but it arrives every so often. This is certainly true in 2019. Many tax filers will be pleased to learn of an exciting development involving 2018 federal taxes: a notable underpayment penalty has been waived, allowing over 400,000 taxpayers to breathe a […]