IRS is providing penalty relief on nearly 5 million 2020 and 2021 tax returns
2024-01-30 IR-2023-244, Dec. 19, 2023 The Internal Revenue Service is providing about $1 billion (about $206 per return) in new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic. Most of those receiving the penalty relief make under $400,000 a year, with nearly 70 percent of the individual taxpayers receiving penalty relief have income under $100,000 per…