Nasdaq

The IRS’s First-Time Penalty Abatement: What It Is And How To Get It

If the IRS has assessed a tax penalty on your account for the first time, don’t panic. You may qualify for a relief measure known as a first-time penalty abatement. Who Qualifies for the First-Time ...
Accounting Today

Inside the IRS failure-to-pay penalty relief initiative

On Dec. 19, 2023, the Internal Revenue Service provided taxpayers some good news and some bad news with the announcement of Notice 2024-7. The bad news is that the IRS is restarting collection notices ...
AOL

Avoid IRS Tax Penalties With This One-Time ‘Get Out of Jail Free Card’

Implemented by the Internal Revenue Service (IRS) in 2001 but infrequently used, it’s possible for certain taxpayers to avoid a tax penalty or get their money refunded from the IRS under its First ...
Times Union

Hit With a Tax Penalty? The IRS Might Give You a Do-Over

This article was first published on NerdWallet.com. The IRS assesses billions in tax penalties each year — in 2017, individual taxpayers faced a share of more than $11 billion in penalties — but few ...