Jan. 10, 2024
The IRS will automatically waive failure-to-pay penalties on unpaid taxes less than $100,000 for tax years 2020 or 2021.
You're eligible for this relief if you meet all the following criteria:
- Filed a Form 1040 or 1041 tax return for years 2020 and/or 2021.
- Were assessed taxes of less than $100,000.
- Received an initial balance due notice, typically the CP14, between Feb. 5, 2022, and Dec. 7, 2023.
A credit will be applied automatically to any other tax year with a balance due, otherwise you'll receive a refund. If your address has changed, notify the IRS so you'll receive any refunds or notices.
For details, see Notice 2024-7 PDF.