The IRS is waiving $1 billion in tax penalties

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The IRS is waiving $1 billion in tax penalties for around 4.7 million taxpayers who owe back taxes for 2020 and 2021.

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Most affected taxpayers earn less than $100,000 annually.

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The penalty relief will be automatic and eligible taxpayers won't need to take any action.

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The relief applies to eligible taxpayers with assessed tax under $100,000 for each return.

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Taxpayers still have to pay the taxes, just not the fees that have accumulated

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Eligible taxpayers who already paid the failure-to-pay penalties related to 2020 and 2021 taxes will get a refund or credit.

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for Detailed Information

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The IRS is waiving $1 billion in tax penalties

Created by : Team stimuluscheckupdated.com