Tax penalties

The Treasury Department and the Internal Revenue Service are lowering the withholding underpayment threshold to 80 percent.

While you may have “nanny taxes” covered for your clients who have hired household help, there may be other compliance problems, including fines

The Tax Court recently ruled against a married couple that tried to garnish the salary of the Secretary of the Treasury to pay their tax bills.

The relief is conditioned on the partnerships providing the missing information in a separate schedule by March 15, 2020.

Lost amid the confusion of the federal government shutdown this year was a new set of penalties the IRS began to issue as part of the agency’s ongoing enforcement of the Affordable Care Act.

Those who file their 2018 return and pay any tax due by April 15 can avoid the estimated tax penalty.

A letter from a senior official to Senate Democrats throws cold water on any extra relief for taxpayers.

PricewaterhouseCoopers is supporting calls from the Institute and lawmakers who are asking to lower the penalty threshold for taxpayers.

The American Institute of CPAs is asking the IRS and the Treasury for additional relief for taxpayers who didn't adjust their withholdings last year for the Tax Cuts and Jobs Act.

Taxpayers who miscalculated how much they’ll owe the Internal Revenue Service this year won’t get hit with penalties — up to a certain point.

Most taxpayers who didn't properly adjust their withholding after the Tax Cuts and Jobs Act won't face penalties.

The organizations are worried about underpayment and underwithholding penalties stemming from the Tax Cuts and Jobs Act.

The penalty has been extended from the Earned Income Tax Credit to other types of refundable tax credits.

The Trump administration will let taxpayers claim hardship exemptions directly on their tax returns.

Despite all the talk from some in Washington, D.C., Obamacare is not going away -- and neither are the responsibilities of employers to comply with the health care law.

With the IRS issuing ACA penalty notices, that can make a dent in an organization’s bottom line.

An IRS program offers taxpayers an opportunity to avoid some penalties -- but it requires careful judgement.

Sometimes the strategy can eliminate a domino effect of other expensive tax problems down the road, Ed Slott writes.

Preparers and their clients often cannot recognize quality differences among service providers, leading to buying decisions based on who proposes the lowest fee or promises the highest tax benefit.

IRS attorneys clear the way for automatic first-time penalty abatement.