Treasury cuts penalties for taxpayers who got confused about withholding
The U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.
The U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.
The delay for the second year running will spare the country’s banks from adding another layer to the $190 billion pile of bad loans on their books.
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The Treasury Department and the Internal Revenue Service are lowering the withholding underpayment threshold to 80 percent.
The Internal Revenue Service is temporarily suspending a pair of revenue rulings dating back to 1957 on the tax requirement for corporate spinoffs until it finishes a new study analyzing the 62-year-old requirements.