IRS to Cancel $1 billion in Penalties for Unpaid Back Taxes
On Tuesday, the Internal Revenue Service (IRS) declared a major step to help individuals, businesses, and tax-exempt organizations that are indebted for taxes in 2020 and 2021. The agency announced waiving $1 billion worth of penalty fees related to these back taxes. The IRS noted that roughly 4.7 million people were impacted by this failure-to-pay […]