The IRS announced yesterday in a Tax Advisory that it has waived the penalty for those who may have not withheld enough income tax or made estimated payments that fell short of their tax liability for 2018. According to the Advisory, “This relief is designed to help taxpayers who were unable to properly adjust their withholding and estimated tax payments to reflect an array of changes under the Tax Cuts and Jobs Act (TCJA), the far-reaching tax reform law enacted in December 2017.” Click on our blog for more details on this waiver announcement. 

https://www.sharrardmcgee.com/blog.php

If you have any questions about how this waiver may affect you or any other concerns about changes to your individual or business taxes brought about by the TCJA, call your tax advisor at Sharrard, McGee & Co., PA. You can reach us at (336) 884-0410 in High Point and (336) 272-9777 in Greensboro.