Rev. Proc. 2015-32, appearing in the Monday, June 15 edition of the Internal Revenue Bulletin, IRB-2015-24 [PDF 148 KB], establishes the permanent penalty relief program.
A pilot program was launched last summer when the IRS issued Rev. Proc. 2014-32, whereby eligible small businesses could avoid penalties by filing current and prior year forms. The requirements under the pilot program included:
Rev. Proc. 2015-32 states that the permanent program generally follows the requirements of the pilot program. As was the case under the pilot program, businesses that have already been assessed a penalty for late filings are not eligible for the penalty relief program.
The IRS also made some changes to the permanent program—including amendments that reflect comments received in response to the pilot program—such as:
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