The year 2020 resulted in a lot of firsts. It is likely an understatement to say that the world was unprepared for the COVID-19 pandemic. Health and safety were first on everyone’s minds, which meant that some aspects of normal living came to a screeching halt—including filing income taxes on time. As a result, the IRS recently issued a new notice that expands penalty relief for some taxpayers for failing to file timely returns in 2019 and 2020.
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