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abatement

The IRS Came Bearing Gifts: Expanded Penalty Relief for 2026

As we wrap up another year and prepare our checklists for 2026 tax season, it turns out the IRS has been working on its own New Year’s resolutions. And no, it’s not planning to “eat healthier” — but it is promising to be more forgiving. Thanks to the One Big Beautiful Bill Act (OBBBA), one

By |2025-12-04T04:50:43+00:00December 22nd, 2025|Categories: Business, Individuals|Tags: , , , , , , , , , |
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IRS relieves penalties for personal and business 2019 and 2020 tax returns

Yesterday, the IRS announced a penalty relief program for personal and business tax returns related to 2019 and 2020 tax years. To qualify for the relief, the tax returns must be filed by September 30, 2022. We note that there is a first time abatement option granted by the IRS and this additional penalty relief

By |2025-01-10T01:30:11+00:00August 25th, 2022|Categories: Business, Individuals|Tags: , , , , , , |
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