Late election relief. Rev. Proc. 2013-30 facilitates the grant of relief to late-filing entities by consolidating numerous other revenue procedures into one revenue procedure and extending relief in certain circumstances.

The Internal Revenue Service announced Tuesday that some tax filers who faced late-pay penalties for tax years 2020 and 2021 will have those penalties waived.

relief. noun. /rɪˈliːf/. /rɪˈliːf/. removal of anxiety/pain. [uncountable, singular] the feeling of happiness that you have when something unpleasant stops or does not happen. I felt a huge sense of relief when I heard they were all OK. We all breathed a sigh of relief when he left.

RELIEF meaning: 1. a feeling of happiness that something unpleasant has not happened or has ended: 2. food, money…. Learn more.

The IRS is automatically removing (abating) failure-to-file penalties for 2019 and 2020 returns. If a taxpayer paid the penalty and the account is full paid, the resulting overpayment will first be used to offset other liabilities and the balance will be refunded.