“The penalty relief issued today is yet another way the agency is supporting people during this unprecedented time. This penalty relief will be automatic for people or businesses who qualify; there’s no need to call.”
The IRS issued a notice Wednesday detailing the penalty relief, which will be issued automatically to taxpayers who have filed their late returns on or before Sept. 30.
The IRS said the step is being taken so it can focus resources on processing backlogged returns in an effort to return to normal operations for the 2023 tax filing season.
The penalties will be waived, abated, refunded or credited. Many of these penalty refunds and credits are expected to come by the end of September, according to the IRS.
Source: IRS will refund $1.2 billion in late tax filing penalties to 1.6 million taxpayers – UPI.com



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