The IRS provided another limited waiver of the addition to tax under Sec. 6655 for a corporate taxpayer’s failure to pay estimated income tax with respect to its Sec. 55 corporate alternative minimum ...

Understanding tax payments and the potential repercussions of underpayment is crucial. The tax underpayment penalty is one such charge that taxpayers need to be mindful of. Simply put, this penalty is ...

In an ideal world, you'd know exactly how much tax to pay or have withheld from each paycheck throughout the year and break even come tax season. But, sadly, things rarely work out perfectly like that ...

The Internal Revenue Service said Friday that it is expanding again the relief it grants taxpayers who had too little in income taxes withheld from their paychecks in the first year of a sweeping tax ...

The Treasury Department and the Internal Revenue Service said Friday they are lowering the withholding underpayment threshold to 80 percent to give more taxpayers relief from tax penalties if they ...