August 24, 2022
The IRS this morning announced (Notice 2022-36) an extensive waiver for penalties for late filing 2019 and 2020 returns. Returns covered include, among others
The waiver also covers late penalties for foreign tax disclosures for those years, including
This relief applies if the returns are filed on or before September 30, 2022.
The relief also covers a broad range of information returns, including many 1099s and information returns related to health insurance coverage.
There are exceptions, including returns subject to fraud penalties.
Eide Bailly will provide a more complete analysis of this notice in the coming days. If you have questions, contact your Eide Bailly tax professional.
This is a roundup of tax news and opinion. Any opinions expressed or implied are those of the author and not necessarily those of Eide Bailly. Opinions found in linked items are those of the authors of the linked item, not of your bloggers or of Eide Bailly. “$” means link may be behind a paywall. Items here do not constitute tax advice.