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ARTICLE · 05 SEPTEMBER 2022

IRS Provides Dramatic Penalty Relief

Miller, Canfield, Paddock and Stone P.L.C.
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On Aug. 24, 2022, the IRS released Notice 2022-36 providing automatic relief from failure to file penalties for the 2019 and 2020 tax years for a significant number of individuals and businesses...

United StatesTax
Christie R. Galinski
Christie R. Galinski
Samuel L. Parks
Samuel L. Parks

On Aug. 24, 2022, the IRS released Notice 2022-36 providing automatic relief from failure to file penalties for the 2019 and 2020 tax years for a significant number of individuals and businesses that were late in filing their 2019-2020 tax returns.

Relief is provided for failure to file penalties generally applied to late-filed returns on certain forms, if they are filed by Sept. 30, including:

  • Form 1040 series (individual income tax)
  • Form 1041 series (estates and trusts)
  • Form 1120 series (corporations)
  • Form 1065 series (partnerships)
  • Forms 990-T (unrelated business income tax) and 990-PF (excise tax payments on investment income for exempt organizations)
  • Certain international information returns such as Form 5471 and 5472 for controlled foreign corporations and 25% foreign-owned U.S. corporations, attached to a late-filed Form 1120 or 1065

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