Shutdown Impact on Tax Court Cases
Opting Out of CPAR, But Naming a Partnership Representative

Some Individual Taxpayers May be Eligible for Underpayment Penalty Relief

The IRS has issued Notice 2019-11, which provides for a waiver of the estimated tax penalty for individual taxpayers who paid in at least 85 percent of their 2018 tax liability on or before Jan. 15, 2019. This waiver can be requested on Form 2210 by checking Box A in Part II and including the statement “85% waiver” with the return.

https://www.journalofaccountancy.com/news/2019/jan/tax-underpayment-relief-201920465.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=15Jan2019

https://www.irs.gov/pub/irs-drop/n-19-11.pdf

On Jan. 28, AICPA sent a letter to Treasury Secretary Mnuchin and Commissioner Rettig requesting additional relief for taxpayers from penalties for underpayment or late payments of 2018 taxes:

https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/20190128-underpayment-late-penalty-relief-comment-letter.pdf

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