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Tag Archives: IRS tax relief

IRS Introduces New, Automated Process for Qualifying Taxpayers to Receive Penalty Relief by Angie Adames, CPA

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Posted on September 14, 2026 by Angie Adames

The IRS recognizes that mistakes happen and has long offered qualifying taxpayers relief from certain penalties through its First-Time Abatement (FTA) administrative Relief program. Historically, however, many taxpayers did not receive this relief because they did not know it existed or they failed to reach the IRS to request it. This changes immediately with the […]

Temporary Relief for Real Estate Businesses That Previously Elected Out of Business Interest Expense Deduction Limits by Angie Adames, CPA

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Posted on August 24, 2026 by Angie Adames

When it comes to tax laws, do-overs are uncommon. However, when the IRS offers taxpayers an opportunity to reverse decisions and actions from prior years, they should take the time to consider their options. This is the case with the IRS’s recently issued Rev. Proc. 2026-17, which allows certain real estate businesses to withdraw previously […]