Is the irs forgiving penalties?

Most payments will be made by the end of September. For more information, see COVID Penalty Relief. The FTA is the easiest option of all penalty relief options. You can request it by calling the toll-free number listed on your IRS notification, or your tax advisor can call the specialized tax hotline or compliance unit (if applicable) to request the FTA for any amount of penalty.

Understand the most common types of commercial IRS tax penalties for filing and paying late, and what are the possible options for requesting relief from IRS fines. Get information from H&R Block about the four types of IRS penalty relief and which IRS penalty relief option may be best for your situation. You must have erroneous documented advice from the IRS that you have reasonably relied on, and the IRS usually doesn't put tax advice in writing. In addition, reducing the penalty should allow the IRS to redirect its resources to processing overdue tax returns and responding to taxpayer correspondence following the challenges faced by the IRS while operating during a pandemic.

The Department of the Treasury and the IRS have determined that this reduction in the penalty will allow the IRS to concentrate its resources more effectively and provide additional relief to taxpayers affected by the COVID-19 pandemic.

Sandra Guderjahn
Sandra Guderjahn

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