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Tag: tax credits

September 2, 2022

IRS Offers Penalty Relief for 2019, 2020 Tax Years

While the recently announced student loan debt relief has captured numerous headlines, it’s estimated that another federal relief program announced on the same day will provide more than $1.2 billion in tax refunds or credits. Specifically, IRS Notice 2022-36 extends penalty relief to both individuals and businesses who missed the filing deadlines for certain 2019 and/or 2020 tax and information returns. The relief covers many of the most commonly filed forms. Broad Relief for Late Taxpayers The intent behind the… Read more ›