Posted on 01/13/2024 5:50:20 PM PST by dynachrome
Nearly 5 million taxpayers who have unpaid tax bills from 2020 and 2021 will have almost $1 billion in penalty fees waived by the Internal Revenue Service (IRS).
The IRS announced penalty relief in December for taxpayers who had outstanding tax bills but were not sent automated collection reminder notices during the pandemic. Though the notices did not go out in 2020 and 2021, the failure-to-pay penalty accrued for taxpayers who did not fully pay their bills.
"As the IRS has been preparing to return to normal collection mailings, we have been concerned about taxpayers who haven't heard from us in a while suddenly getting a larger tax bill. The IRS should be looking out for taxpayers, and this penalty relief is a common-sense approach to help people in this situation," IRS Commissioner Danny Werfel said in a statement. "We are taking other steps to help taxpayers with past-due bills, and we have options to help people struggling to pay."
(Excerpt) Read more at aol.com ...
I have to pay every penny or else. Others . . not so much.
FU IRS I want my gdamn money back. Fckn thieves.
Tax bills? Why bother? They just print it anyway.
I’m simply going to stop paying. Let’m come and get me. They can pay for my upkeep.
I made an honest error on my tax returns some years ago. I was billed plus interest. I did not complain as it was my error and just a few hundred dollars. I paid and everyone else should pay also.
I use an accountant now.
This is just for the penalty. Not the actual tax
as a wise man once said: beware of ‘greeks’ bearing gifts.
Has Al Sharpton ever paid his back taxes???
Their agent's reply was it wasn't their fault I hadn't paid the correct taxes in the first place.
On the other hand, I made a arithmetic error in my returns one year. About 3 year later, I got a letter and a check from the IRS stating I had made an error in my returns and the check covered the amount of the error and accrued interest for 3 years.
I had an insurance agency client, (now retired for many year), with about $3 million in sales. The agency usually gets about a 15% margin so the cost of insurance sold was about $2.5 million, giving a $500K margin to cover salaries and overhead costs. Profit was usually about $50K.
The IRS sent a letter stating that I made an error on the corporate return and added the cost of insurance sold rather than subtracting it, thus showing a profit of over $5 million. My client received a tax bill for about $2 million.
My client had a heart condition!
It was easy to get corrected, but the stupidity on the part of the IRS was prevalent.
IRS waives penalty for taxpayers with tax bills from 2020 and 2021.
Hunter buys another pipe.
This all about bringing back home Democrat voters.
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