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Started By
Message
IRS waived underpayment penalty
Posted on 8/31/22 at 8:39 am
Posted on 8/31/22 at 8:39 am
Any idea why the IRS waived my penalties for not making 2021 estimated taxes?
6
Posted on 8/31/22 at 8:45 am to tigeralum06
Welcome to Biden's America where nobody has to pay for things they owe anymore
Posted on 8/31/22 at 9:25 am to tigeralum06
Are you in Louisiana? It may be relief for Hurricane Ida.
Posted on 8/31/22 at 10:06 am to tigeralum06
Was 2021 the first year you didn't pay enough estimated taxes?
Posted on 8/31/22 at 10:20 am to Miglez
quote:
Welcome to Biden's America where nobody has to pay for things they owe anymore
Dems love taxes baw this doesn’t fit the memo
Posted on 8/31/22 at 12:27 pm to tigeralum06
quote:
The Internal Revenue Service said Wednesday it was waiving late-filing penalties and issuing refunds to 1.6 million taxpayers who missed extended filing deadlines for tax year 2019 and 2020 federal income-tax returns.
WSJ
Posted on 8/31/22 at 1:39 pm to tigeralum06
Basically because the IRS can’t keep shite straight so they just said frick it.
This post was edited on 8/31/22 at 1:40 pm
Posted on 8/31/22 at 4:06 pm to tigeralum06
quote:Because they are incompetent buffoons.
IRS waived underpayment penalty
Any idea why the IRS waived my penalties for not making 2021 estimated taxes?
Why do I say that?
Because there is a flip-side of the coin ... I had a slight overpayment of estimated tax in 2020. The IRS said to apply it as a credit to my 2021 Q1 tax.
No problem, right?
In May, I received a notice of "tax underpayment" with an associated penalty for the amount of the "credit", which they'd told my accountant to apply. We sent the IRS geniuses a detailed written response with tax particulars, supporting docs, etc.
Today I got a second notice from the imbeciles. So, yeah, I have an idea why the IRS "waived" your penalty. They can't find their own arse with both hands and a flashlight. So despite the current EO, I'd highly recommend hanging on to pertinent tax records for an extended time.
This post was edited on 8/31/22 at 5:56 pm
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