The IRS is waiving penalties for nearly $1 billion in back taxes owed during the pandemic. Here's what you should know about who's eligible and how the tax penalty relief works.

The IRS offers more than 10 options to self-certify that you qualify for a waiver and thus avoid requesting a private letter ruling (the third option below). These options are listed on Page 2 of ...

Editor’s note: Video is from previous coverage. ATLANTA, Ga. (Atlanta News First) - U.S. Sen. Jon Ossoff, D-Ga., is requesting that the IRS waive penalties and interest fees for Georgians whose ...

Editor’s note: Video is from previous coverage. ATLANTA, Ga. (Atlanta News First) - U.S. Sen. Jon Ossoff, D-Ga., is requesting that the IRS waive penalties and interest fees for Georgians whose IRS ...

A first-time penalty abatement will waive late fees Now for the good news: If you have a history of filing and paying your taxes on time, the IRS may be willing to waive those penalties through a ...

The penalty waiver only applies to taxpayers with assessed taxes under $100,000 and filed certain Forms 1040, 1120, 1041 and 990-T income tax returns for tax years 2020 or 2021.

In December, the IRS announced that the agency would waive some failure-to-pay penalties for eligible taxpayers affected by this situation for tax years 2020 and 2021.

What to know about the failure-to-pay waiver provision The penalty relief is automatic for taxpayers who owe back taxes, though it’s limited to tax bills of $100,000 or less, Rob Seltzer, a ...