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IRS Waives Estimated Tax Penalties for Overseas U.S. Workers

Irs_logo_357 The IRS yesterday issued a news release (IR-2007-32) and Notice 2007-16 announcing that it will waive penalties for overseas U.S. workers who may have underpaid their estimated taxes as a result of retroactive changes to the foreign housing allowance under § 911 by the Tax Increase Prevention and Reconciliation Act of 2005, enacted in May 2006. 

 


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