IRS Expands Relief from Underpayment Penalty Reviewed by Momizat on . The Internal Revenue Service has announced it is lowering to 80% from 85% the amount taxpayers must have paid to escape an underpayment of estimated income tax The Internal Revenue Service has announced it is lowering to 80% from 85% the amount taxpayers must have paid to escape an underpayment of estimated income tax Rating: 0
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IRS Expands Relief from Underpayment Penalty

The Internal Revenue Service has announced it is lowering to 80% from 85% the amount taxpayers must have paid to escape an underpayment of estimated income tax penalty for 2018. The usual rule requires at least a 90% payment of tax shown on the return.

To read the full article in the Journal of Accountancy, click: IRS Expands Relief from Underpayment Penalty.

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