• The Internal Revenue Service (IRS) announced on Aug. 24 that it will waive penalties levied against American taxpayers who failed to file their 2019 and 2020 returns in a timely manner during the COVID-19 pandemic.
• The penalty relief is automatic for people or businesses who qualify, meaning taxpayers won’t have to apply for it.
• For those who haven’t yet paid fines, the penalties will be abated.

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