The deadline for late-filing penalty relief for 2019 and 2020 tax returns is Sept. 30, the IRS reaffirmed on Friday, Sept. 23.
The IRS unveiled the penalty relief plan on Aug. 24. Despite the AICPA’s request for a deadline extension to Dec. 31, the IRS is standing firm on the Sept. 30 deadline.
Although the time for full penalty relief is running out for businesses and individuals that have not yet filed their 2019 or 2020 returns, those that miss the deadline but file during the first few months after Sept. 30 will still qualify for partial penalty relief. Read more.