IRS will waive late-payment penalty for taxpayers affected by delayed forms

03/21/2013 | JournalofAccountancy.com

Recognizing that its inability to accept all tax forms at the start of tax season is causing many taxpayers to request extensions, the Internal Revenue Service announced on Wednesday that it is waiving the late-payment penalty for taxpayers who are filing one of the 31 delayed forms and who make a good-faith effort to estimate and pay their tax when they file for an extension.

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