Excerpt from IRS Newswire Article...Full Article Here
IRS waives penalty for many whose tax withholding and estimated tax payments fell short in 2018
IR-2019-03, January 16, 2019
WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent of their total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or a combination of the two. The usual percentage threshold is 90 percent to avoid a penalty.
If you are unable to pay your taxes, there is no need for concern. If you need help with your tax debt from a qualified tax resolution specialist contact us here in New Orleans, Louisiana or visit www.taxcrisisrescue.com or call 800-433-0986.
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