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The Chamberlain Hrdlicka Business and International Tax Blog provides updates, developments, and insights on business and international tax.
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- Posts by Patrick W. Martin
ShareholderWith 30 years of legal experience, Patrick Martin’s practice focuses on a wide range of international tax issues. He assists domestic and foreign privately held companies, global investors, funds and other business entities ...
On August 24, 2022, the IRS released Notice 2022-36, Penalty Relief for Certain Taxpayers Filing Returns for Taxable Years 2019 and 2020 (the “Notice”). The Notice waives certain failure-to-file penalties (FTF) and international information return (IIR) penalties for 2019 and 2020 returns. These must be filed no later than September 30, 2022. Plus, penalties for certain late-filed returns for S corporations and partnerships that failed to report required information on 2019 and 2020 returns can be abated.