IRS Grants $1 Billion Relief: Waives Penalty Fees for Small-Taxpayers Amid Pandemic Strain
In a move to ease financial burdens caused by the pandemic, the IRS announced last week that it will waive penalty fees for individuals and entities failing to pay back taxes totaling less than $100,000 annually for tax years 2020 and 2021. Nearly 5 million eligible taxpayers, mainly those earning under $400,000 per year, will … Read more