Category: Penalties

IRS Almost Powerless to Enforce Health Care Penalties

“Although the U.S. health care law imposes penalties on people who fail to buy health insurance, the Affordable Care Act prohibits the Internal Revenue Service from using most of its customary techniques for collecting the money. The IRS could deduct the penalty from a tax refund but it can’t file a lien against a taxpayer’s

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Taxpayers filing delayed forms get late-payment penalty relief

“On Wednesday, the IRS announced that it will waive the penalty normally assessed for late payment of income tax, for taxpayers who have requested an extension of time to file their return and who are filing one of the 31 forms that were delayed until March because of the last-minute tax law changes in the

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