PENALTIES
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IRS Will Waive Penalties for Underpayments Related to the Premium Tax Credit
From the IRS The IRS announced that it will provide automatic penalty relief for taxpayers who, when they reconcile advance payments of the premium tax credit they received for 2014 (which were paid as premiums directly to insurance providers) to the amount of the credit they are entitled to on their income tax returns, find they owe additional tax they are unable to pay or owe a penalty for underpayment of estimated tax (Notice 2015-9).
IRS Will Waive Penalties for Underpayments Related to the Premium Tax Credit
From the IRS The IRS announced that it will provide automatic penalty relief for taxpayers who, when they reconcile advance payments of the premium tax credit they received for 2014 (which were paid as premiums directly to insurance providers) to the amount of the credit they are entitled to on their income tax returns, find they owe additional tax they are unable to pay or owe a penalty for underpayment of estimated tax (Notice 2015-9).