IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic

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To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service today issued Notice 2022-36

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it provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late.

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The IRS is also taking an additional step to help those who paid these penalties already.

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Nearly 1.6 million taxpayers will automatically receive more than $1.2 billion in refunds

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or credits. Many of these payments will be completed by the end of September.

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Besides providing relief to both individuals and businesses impacted by the pandemic, this step is designed to allow the IRS to focus its resources on processing backlogged tax returns

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and taxpayer correspondence to help return to normal operations for the 2023 filing season.

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The relief applies to the failure to file penalty.

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thanks for reading

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