The IRS expects to send out over 125,000 collection letters to high-income taxpayers who did not file one or more federal income tax returns between 2017 and 2021. As part of the new collection initiative, approximately...more
The Internal Revenue Service plans to provide widespread penalty relief for the late filing of certain tax and information returns for the 2019 and 2020 tax years.
According to Notice 2022-36, this latest penalty relief...more