$1.2 billion in IRS penalty relief refunds coming for certain 2019 a…
https://www.irs.gov/newsroom/1-point-2-billion-dollars-in-irs-penalty-relief-refunds-coming-for-certain-2019-and-2020-tax-returns
The relief applies to the failure to file penalty. The penalty is typically assessed at a rate of 5% per month, up to 25% of the unpaid tax when a federal income tax return is filed late. It applies to forms in both the 1040 and 1120 series, as well as others listed in the notice.
The relief applies to the failure to file penalty. The penalty is typically assessed at a rate of 5% per month, up to 25% of the unpaid tax when a federal income tax return is filed late. It applies to forms in both the 1040 and 1120 series, as well as others listed in the notice.
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