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  2. Taxes: IRS waives penalty for taxpayers with tax bills from ...

    www.aol.com/finance/taxes-irs-waives-penalty...

    Nearly 5 million taxpayers who have unpaid tax bills from 2020 and 2021 will have almost $1 billion in penalty fees waived by the Internal Revenue Service (IRS). The IRS announced penalty relief ...

  3. 'This is a gift': The IRS is waiving $1 billion in penalties ...

    www.aol.com/finance/gift-irs-waiving-1-billion...

    The federal tax agency announced on Dec. 19 that it’s waiving $1 billion in penalties tied to overdue bills from the 2020 and 2021 tax years — when the IRS temporarily suspended the mailing of ...

  4. IRS to waive $1 billion in penalties for people and firms ...

    www.aol.com/news/irs-waive-1-billion-penalties...

    Taxpayers are eligible for automatic relief if they filed a Form 1040, 1041, 1120 series or Form 990-T tax return for years 2020 or 2021, owe less than $100,000 per year in back taxes, and ...

  5. Nearly 5 million taxpayers to get money back from the IRS ...

    www.aol.com/news/5-million-taxpayers-money-back...

    The IRS is waiving the penalties for tax years 2020 and 2021. Almost 70% of the individuals receiving relief make less than $100,000 annually. ... If you have penalty relief questions, you can ...

  6. If you faced a tax penalty during the pandemic, the IRS may ...

    www.aol.com/news/faced-tax-penalty-during...

    The agency estimates 4.7 million individuals, businesses, trusts, estates and tax-exempt organizations are eligible for the penalty relief, representing $1 billion in savings to taxpayers, or ...

  7. Cancellation-of-debt income - Wikipedia

    en.wikipedia.org/wiki/Cancellation-of-debt_income

    Foreign tax credit carryovers – Any carryover to or from the taxable year of the discharge for purposes of determining the amount of the credit allowable under 26 U.S.C. §27; The reduction in tax attributes is made after the determination of the tax imposed for the taxable year of the discharge. [35]

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