Good News for Taxpayers: IRS to Waive Failure-to-File Penalties for Certain Taxpayers in Response to Pandemic<\/p>\n
In response to the COVID-19 pandemic, the IRS issued Notice 2022-36, waiving failure-to-file penalties against certain taxpayers for 2019 and 2020. However, taxpayers must act fast to take advantage of this tax debt relief<\/strong><\/a>. To qualify, the missing returns must be filed on or before September 30, 2022.<\/p>\n As directed by the President under the Robert T. Stafford Disaster Relief & Emergency Assistance Act in March 2020, the IRS offered taxpayers a series of tax relief provisions in response to the pandemic over the past two years.<\/p>\n Notice 2022.36<\/strong><\/a> provides that the IRS will not impose certain failure to file penalties typically imposed under IRC Sec. 6651(a)(1) for qualifying taxpayers regarding the following types of personal income tax returns so long as taxpayers file the missing returns on or before the relief deadline expires on September 30, 2022.<\/p>\n The relief also applies to taxpayers filing certain 1041, 1120, and 990 tax returns.<\/p>\n Notably, late-payment penalties concerning the missing returns have not been waived. The IRS anticipates that qualifying taxpayers can expect credits and refunds to be issued over the next three months. However, before issuing any payment to taxpayers, the IRS will offset penalty refunds against any other outstanding tax liabilities.<\/p>\n If you are struggling with tax debt, the tax relief professionals<\/strong><\/a> at Anderson Bradshaw Tax Consulting can help you through your unique tax situation. With over 30 years of experience in the industry, we have seen almost every tax issues and have learned the best ways to handle each one accordingly. You can feel confident knowing your struggles and difficulties with the IRS can be resolved and corrected quickly and efficiently at Anderson Bradshaw. For further information or to schedule a consultation please contact Anderson Bradshaw Tax Professionals at 877.550.3911<\/strong><\/a> or visit www.AndersonBradshawTax.com<\/strong><\/a> to learn more.<\/p>\n\n
Looking for Tax Debt Relief<\/em>? Contact the Highly Reputable Anderson Bradshaw Tax Today<\/strong><\/h2>\n
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