IRS Unveils Free Filing System: The IRS is now accepting tax returns for the 2023 filing season, and IRS Free File – a program that makes brand-name tax software and electronic filing available to most taxpayers for free – is now open and ready for taxpayers to use. Through this program, a public-private partnership between IRS and the Free File Inc, leading tax software providers make their online products available in both English and Spanish for free. Learn more here.
Tax Relief for Eligible Taxpayers: The IRS is waiving failure-to-pay penalties on taxes from 2020 and 2021 that fall below $100,000. Individuals, businesses, and tax-exempt organizations who owe back taxes will receive automatic penalty relief. To check eligibility, find the notice here.
Free Tax Prep for Self-Employed Tax Filers: NYC Free Tax Prep for Self-Employed Filers provides free tax preparation services for gig workers, freelancers, and small business owners via the New York City Department of Consumer and Worker Protection. In addition to providing annual and quarterly estimated tax filing preparation assistance, new workshops and one-on-one consultations will help the growing number of New Yorkers who perform gig and freelance work to learn the basics of tax filing and recordkeeping best practices as self-employed filers.
New IRS Voluntary Disclosure Program: Employers who received questionable Employee Retention Credits can now pay them back at a discounted rate. Those interested in the program must apply by March 22. Find more information on the program here.
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