Tax Penalty

HB 5155 Taxpayer Protection Act of 2021

There’s trouble at the IRS – Tell Congress to Act NOW!

The American Institute of CPAs (AICPA) had a Town Hall meeting on Thursday, January 6, 2022, to cover updates related to the tax profession. One of the items they highlighted is how dysfunctional the Internal Revenue Service (IRS) currently is. The biggest problem is they aren’t opening their mail or reading the faxes that are […]

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IRS waives some penalties on withholding and estimated tax payments

The IRS released information today that should come as a relief to taxpayers and tax preparers as we start work on our 2018 tax returns.  The IRS will be waiving the estimated tax penalty for taxpayers on their 2018 tax return who didn’t have enough withholding and estimated tax payments to cover their tax liabilities.

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