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IRS penalty relief is ‘very welcome,’ tax pros say
Covid-19 has “greatly impacted” the agency’s ability to process paper, Campo explained, and missing returns have triggered notices, further adding to the pileup when filers respond.
“With this broad relief, the burden on taxpayers, tax professionals and IRS staff should be alleviated to some extent,” he said.
The IRS has been “working aggressively” to process backlogged returns and taxpayer correspondence, aiming to return to “normal operations” for the 2023 filing season, according to the notice. The penalty relief will allow the agency to “focus its resources more effectively,” the IRS said.
