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2022 IRW Penalties

On November 8, 2021, the IRS published Revenue Procedure 2021-45, which includes information return penalties for tax year 2022. We have prepared a chart that includes the increases from tax year 2020 to tax year 2021 and finally the new penalties adjusted for inflation for reporting 2022 information in the year 2023.

Check out inflation increases in Revenue Procedure 2021-45 here:

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2022 IRW Penalties

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Comply Exchange was built to give businesses and individuals alike the support that they need to comply with the complex and ever-evolving regulatory tax burdens imposed by the IRS and other global authorities with respect to information reporting and withholding.

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