The IRS will further relax penalties on people who didn’t pay enough income taxes throughout 2018, easing the transition to the new tax law
WASHINGTON—The Treasury Department said Friday that it will further relax penalties on people who didn’t pay enough income taxes throughout 2018, easing the transition to the new tax law.
Taxpayers can now avoid penalties if they paid at least 80% of their 2018 income taxes through withholding or timely estimated tax payments. That’s down from the 90% requirement that usually applies and the 85% threshold that the Internal Revenue Service announced in January.
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