IRS Waives Failure-to-Pay Penalties for Nearly 5 Million Taxpayers

The IRS said it’s waiving roughly $1 billion in failure-to-pay penalties on owed taxes for roughly 5 million taxpayers.

The Internal Revenue Service (IRS) building in Washington on June 28, 2023. Madalina Vasiliu/The Epoch Times

The Internal Revenue Service (IRS) said Tuesday that it is providing failure-to-pay penalty relief for roughly 4.7 million taxpayers who didn’t receive automated collection reminder notices from the tax agency.

The IRS said in a Dec. 19 announcement that the $1 billion or so in total penalty relief will be granted to certain individual taxpayers, businesses, and tax-exempt organizations, for the taxable years 2020 and 2021.