On March 25, 2020, the Internal Revenue Service (IRS) released guidance related to its “People First Initiative,” a program intended to respond to the challenges of Covid-19, by providing a variety of relief related to IRS deadlines and collection actions (for more information on the IRS’s People First Initiative, please see our previous blog articles [...]
The IRS recently announced that taxpayers who owe tax and did not file their 2018 returns before Friday, June 14, 2019 will be subject to increased late filing penalties. penalty kicks in. The failure-to-file penalty is assessed if there is unpaid tax and the taxpayer fails to file a tax return or request an extension [...]