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IRS Update on Penalty Relief, CRATs, Chatbots, and COVID Refund Claims
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Join our 250K+ subscribers
Subscribe10 JUL 2026 / IRS UPDATES
CPE Approved
The IRS has introduced a new program, the Automatic Exemption from Penalty (AEP), which will automatically suppress certain penalties for compliant taxpayers starting from 2026. The service is aimed at reducing human effort in routine tax administration while increasing scrutiny on complex or aggressive transactions.
The IRS rarely sends one clean message. This week, it sent four. It offered automatic penalty relief to compliant taxpayers, tightened reporting around abusive charitable trust arrangements, faced sharp questions about whether its chat tools work, and ope...
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