IRS Automatically Waives Estimated Tax Penalty for Eligible 2018 Tax Filers
(WorldNews Politics)

August 14, 2019 The IRS is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver. The IRS will apply this waiver to tax accounts of all eligible taxpayers, so there is no need to contact the IRS to apply for or request the waiver. Earlier this year, the IRS lowered the usual 90-percent penalty threshold to 80 percent to help taxpayers whose withholding and estimated tax payments fell short of their total 2018 tax liability. The agency...