The IRS “one-time forgiveness” refers to the First-Time Penalty Abatement program, offering relief from certain penalties for compliant taxpayers.

On Dec. 19, 2023, the Internal Revenue Service provided taxpayers some good news and some bad news with the announcement of Notice 2024-7. The bad news is that the IRS is restarting collection notices ...

Taxpayers across the country are starting to receive letters from the IRS. The IRS said the reminder notices will go to individuals who owe back taxes before tax year 2022. Businesses, tax-exempt ...

There are many reasons a small business may owe back taxes to the IRS, but typically the problem stems from failing to file business tax returns or to pay the correct amount of tax on time. If not ...

Americans who owe back taxes will be given an incentive to pay up after the Internal Revenue Service said Tuesday it would waive nearly $1 billion in late-payment penalties. Roughly 4.6 million ...

It isn't always easy to pay off what's owed to the Internal Revenue Service (IRS), especially as interest and penalties begin to accumulate on your tax debt. The IRS penalties on unpaid tax debt can ...