The IRS has announced that it will waive penalties for people who filed their tax returns late during the pandemic. Almost 1.6 million filers will receive over $1.2 billion in penalty refunds or credits.

The penalty relief is for individuals and businesses that filed their returns late for 2019 and 2020.

David Zubler is a tax accountant and Enrolled Agent in East Tennessee, providing tax strategies and representing clients before the IRS and has over 25 years of tax experience. He is the author of six tax books and has shared tax advice on national TV. He is the founder and president of Your Tax Care. The company provides business and tax education, including David’s one-minute tax tip radio recordings at YourTaxCare.com. David can be reached at 865-363-3019 or contacted by email at david@yourtaxcare.com.