Automatic Tax Relief from Certain Filing Penalties, Taxable Years 2019 and 2020

September 12, 2022

In IRS Notice 2022-36, the IRS announced that it would be providing tax relief by waiving late filing penalties for certain tax returns for taxable years 2019 and 2020 that are filed on or before September 30, 2022. This, however, does not apply to penalties for late tax payments.

Although the IRS called for the postponement of many tax filing deadlines in 2020 and 2021 to expand COVID-19 relief measures, the additions to taxes and penalties for late filing (past postponed due dates) continued to accrue. The measures announced in the IRS notice rectify these additional taxes and penalties.

The latest tax relief measures apply to both individuals and businesses, specifically for:

  • U.S. Individual Income Tax Returns
  • U.S. Returns of Partnership Income
  • U.S. Income Tax Returns for an S corporation
  • U.S. Income Tax Returns for Estates and Trusts
  • U.S. Corporation Income Tax Returns
  • U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Returns
  • Returns of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation
  • Exempt Organization Business Income Tax Returns

Relief is also provided for certain foreign reporting including Forms 5471 and 5472.

If you’ve already filed and penalties were previously assessed, or file by September 30, 2022, the penalties will automatically be abated, refunded, or credited to affected taxpayers. No action required by the taxpayer.

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