To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 tax returns late certain 2019 or 2020 tax returns late. The IRS is also taking an additional step to help those who’ve already paid these penalties by providing a refund or credit. The IRS expects to complete these payments by the end of September 2022.
This relief will be automatic – there’s no need to call the IRS.
The COVID-related penalty relief news release provides more information on what penalties are included and what criteria must be met to receive relief.