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Personal Finance @lemmy.ml

First time tax penalty abatement

www.cnbc.com

This one-time strategy can waive IRS tax penalties. 'It’s like a get out of jail free card,' expert says

I wasn't aware of this until now, probably because I never needed it. But if you're usually a good, on-time tax filer, but you forgot this year for some reason, you can apply to get fees waived.

Anyone have any experience with this? Just wondering how useful it is in practice.

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