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Tag Archives: Business Tax Relief
IRS Waives Diesel Fuel Penalty Due to Hurricane Sandy
The Internal Revenue Service, in response to shortages of clear diesel fuel caused by Hurricane Sandy, will not impose a tax penalty when dyed diesel fuel is sold for use or used on the highway. This relief applies beginning Oct. … Continue reading
IRS Can Now Reduce the Amount of the Frivolous Tax Penalty
Section 6702(d) of the Internal Revenue Code authorizes the Internal Revenue Service (IRS) to reduce the amount of the frivolous tax submission penalty assessed under section 6702(a) or (b) if the IRS determines that a reduction would promote compliance … Continue reading
Posted in Tax Penalties
Tagged Business Tax Relief, Tax Penalty, Tax Penalty Reduction
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IRS Gives Additional Time to Taxpayers and Preparers Affected by Hurricane Sandy; File and Pay by Nov. 7
The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due today. The relief applies to taxpayers and tax preparers in an area … Continue reading