• About Us
    • Small Businesses
    • Mid-Size Businesses
    • Individual Taxpayers
  • Tax
    • Business Tax Preparation
    • Individual Tax Preparation
    • Trust and Estates Tax Preparation
    • IRS Audit
    • Unfilled Tax Returns
    • Tax Consulting
  • International Tax
    • Expat Taxation
    • New US Residents
    • Foreign Assets Reporting
    • Inbound International Tax
    • Outbound International Tax
    • Dual Status Taxpayers
    • Foreign Trust Taxation
    • Foreign Investment in US
    • FATCA compliance
    • Int’s Bookkeeping
  • Accounting
    • Financial Statements Preparation
    • Review of your Books
    • Quickbooks
    • Xero Accounting
  • Advisory
    • Business Best Practices Coaching
    • Entity Structure & Tax Elections
    • Accounting System Analysis & Implementation
  • Pricing
    • Free Initial Meeting
    • Tax Return Fees
    • Manageable Cost for Service Year Around
  • Portal
  • Contact Us
Victoria Bogdanovich CPAVictoria Bogdanovich CPA
Victoria Bogdanovich CPAVictoria Bogdanovich CPA
  • About Us
    • Small Businesses
    • Mid-Size Businesses
    • Individual Taxpayers
  • Tax
    • Business Tax Preparation
    • Individual Tax Preparation
    • Trust and Estates Tax Preparation
    • IRS Audit
    • Unfilled Tax Returns
    • Tax Consulting
  • International Tax
    • Expat Taxation
    • New US Residents
    • Foreign Assets Reporting
    • Inbound International Tax
    • Outbound International Tax
    • Dual Status Taxpayers
    • Foreign Trust Taxation
    • Foreign Investment in US
    • FATCA compliance
    • Int’s Bookkeeping
  • Accounting
    • Financial Statements Preparation
    • Review of your Books
    • Quickbooks
    • Xero Accounting
  • Advisory
    • Business Best Practices Coaching
    • Entity Structure & Tax Elections
    • Accounting System Analysis & Implementation
  • Pricing
    • Free Initial Meeting
    • Tax Return Fees
    • Manageable Cost for Service Year Around
  • Portal
  • Contact Us

Lawmakers Press IRS to Extend Late Fee Relief

Home NewsLawmakers Press IRS to Extend Late Fee Relief

Lawmakers Press IRS to Extend Late Fee Relief

October 14, 2022 Posted by Victoria Bogdanovich News, Tax Updates

Lawmakers are pressing the Treasury Department and the Internal Revenue Service to extend the deadline for COVID-19-related taxpayer penalty relief from Sept. 30 to mid- to late November.

In late August, the IRS announced it would automatically wipe away late fees for taxpayers who failed to file returns and certain other documents for taxable years 2019 and 2020 if they filed the missing returns and documents by Sept. 30, 2022.

The agency expects to give refunds and credits to 1.6 million taxpayers for a total of $1.2 billion.

The bipartisan letter, sent Tuesday by eight members of the Senate Finance Committee and 16 members of the House Committee on Ways and Means states that extending the relief “with whatever appropriate procedural guardrails are determined to be necessary, would provide needed time for more taxpayers to come into voluntary tax compliance without unduly burdening the IRS.”

The lawmakers said that they’ve heard from both constituents and also large segments of the tax professional community “that the deadline is simply too soon for some taxpayers.”

While the IRS provided some COVID-19 related penalty relief in Notice 2022-36, it “only provided 36 days (5 weeks) for self-filers and practitioners to check their records and file any outstanding 2019 and 2020 tax returns,” the lawmakers wrote. “For those taxpayers who now realize they must file overdue returns, it will take time to gather information and other supporting documents and complete and file the applicable return, particularly if multiple years are involved.”

Taxpayer and tax practitioners, the lawmakers said, “are already busy during this condensed time period with existing return filing deadlines (such as the Sept. 15 deadline for pass-throughs, Sept. 30 for trusts, and Oct. 15 for individuals and corporations).”

Inserting a Sept. 30 deadline into this time period “creates a significant burden for taxpayers and practitioners that will limit the ability of taxpayers to qualify for relief, increase the compliance and paper-filing burden on the IRS, decrease the number of taxpayers who come into full compliance, and harm taxpayers who are currently prevented from filing their tax returns,” the lawmakers said.

 

You also might be interested in

Guaranteed payments vs. distributive share of income

Sep 30, 2022

Historically, the income tax treatment of a distributive share of[...]

Customs duty refunds on transfer-pricing adjustments

Jul 14, 2022

Multinational companies (MNCs) often make periodic (including year-end) transfer-price adjustments to address target[...]

Businesses must e-file Form 8300 for $10,000+ cash payments in 2024

Sep 6, 2023

Certain businesses that receive payments of over $10,000 in cash[...]

Recent Posts

  • IRS reduces user fee for estate tax closing letters June 6, 2025
  • Deduction for Theft Loss and Legal Fees Denied June 2, 2025
  • The Home Sale Gain Exclusion in Today’s Market May 29, 2025
  • Tax planning for physicians May 23, 2025
  • Lower Auto Depreciation Limits Issued for First Time in at Least 3 Years March 13, 2025
Experience something completely different. Start Here

Contact Info

  • Victoria Bogdanovich, CPA
  • 3321 Bee Cave Rd Ste 201
  • 512-814-8311
  • info@victoria-cpa.com
  • www.victoria-cpa.com

Fresh from blog

  • IRS reduces user fee for estate tax closing letters
  • Deduction for Theft Loss and Legal Fees Denied
  • The Home Sale Gain Exclusion in Today’s Market
  • Tax planning for physicians

© 2025 victoria-cpa.com

  • Home
  • About
  • Contact
Prev Next