1040ez 2022 in this presentation we will take a look at an IRS post release dated August 16th 2019 IRS automatically waives estimated tax penalties for eligible 2018 tax filers earlier this year the IRS provided additional expanded penalty relief to.
Individual taxpayers whose 2018 federal income tax withholdings and estimated tax payments fell short of their total tax. Liability for the year you'll recall that there were substantial changes, that were made in 2018 including changes to the withholding tables and what the tax liability will be at the end of the, year which could result in people not being able to plan as well as they could have therefore the IRS has provided some relief.
Due to these changes the IRS is now automatically waiving the estimated.
Tax penalties for eligible tax payers who already have filed their 2018 federal income tax returns but who did not claim the waiver filing form 843 for expanded unemployment unemployment of, estimated income tax penalty relief posted March 27th 2019 is superseded to extend, its directs individual taxpayers who already have paid the penalty to file form 843 to claim a refund over the next few months the IRS is mailing, CP 21 to detect payers notifying them the penalty was, waived the automatic waiver has been granted to any eligible taxpayer whether or not they already have requested penalty relief on Form 843 after receiving their notice in the mail taxpayers who already. Have paid the penalty should.
Receive their refunds within three weeks if they didn't owe any other taxes or debt the IRS required to collect eligible taxpayers who already have. Filed a 2018 return do not need to request penalty relief contact the IRS or take any other action to get this, relief which is nice the automatic weight waiver applies to an individual taxpayer who paid at least 80 percent of their total.
Tax liability through federal and come tax withholdings or, quarterly estimated tax payments but did not claim the special waiver of available to them when they, filed the 2018 return earlier this year the waiver is designed to provide relief to any taxpayer who filed too early to take advantage of the waiver or. Was unaware of it when they filed for those yet to file the IRS urges every eligible taxpayer to claim the waiver, on their return this includes those with tax filing extensions due to run out on October 15th 2019 the fastest.
And easiest way to do that is to file electronically and take advantage of the waiver computation, build into their software package those who choose to file a pay on paper can fill out form 20 to 10, and attach it to their 2018 return see instructions for form 2 to 10 for details, if you have questions about that notice or it's been longer than three weeks you may call the toll-free number listed on the top to, notify the IRS to get a hold of the IRS.