WASHINGTON—The Treasury Department said Friday that it will further relax penalties on people who didn’t pay enough income taxes throughout 2018, easing the transition to the new tax law.
Taxpayers can now avoid penalties if they paid at least 80% of their 2018 income taxes through withholding or timely estimated tax payments. That’s down from the 90% requirement that usually applies and the 85% threshold that the Internal Revenue Service announced in January.
MainStreetInv Great decision IRS! people are terrified by paying taxes and can make mistakes
Income tax system is broken. Enough with new rules and penalties. Flat 15% across the board that everyone pays.
How about this year the IRS doesn't simultaneously raise income tax throughout the year while lowering the resulting return at the end of the year for those in the lower brackets. Screwed over the hard working paycheck-to-paycheck families that are barely escaping poverty levels
Bottom 50% of folks DON'T pay ANY income taxes, let that sink in.
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