The U.S. IRS has announced the issuance of Notice 2022-36 on 24 August 2022, which provides systemic penalty relief to individual and corporate taxpayers for certain civil penalties with respect to certain 2019 and 2020 returns. The relevant penalties will be waived or, to the extent previously assessed, abated, refunded, or credited, as appropriate. --- COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers IR-2022-155, August 24, 2022 WASHINGTON — To help struggling taxpayers affected by the COVID-19 pandemic, the Internal...