News

Tuesday April 22, 2025

Our News
Thank you for your interest in The DuPage Foundation. Our hope is to serve you and your family with helpful information.
More
Savvy Living
I have been giving more thought to how to plan for the years ahead. As someone who may not have immediate family to rely...
More
Washington News
On April 16, 2025, the Internal Revenue Service (IRS) explained the penalty relief options for taxpayers who missed the filing deadline. The IRS encourages taxpayers to file and pay taxes if they are able to do so. Taxpayers who make partial payments toward their tax debt can reduce the accrued interest and penalties. Some taxpayers may also qualify for penalty relief. There is a First Time Abate administrative waiver for taxpayers who are in good standing with the IRS. History of Tax Filing — The first requirement is that you have filed for the past three years and there were no penalties assessed. If you filed for years 2021, 2022 and 2023 and did not have any penalties, you may qualify for First Time Abate relief. Additional Requirements — Taxpayers also may have to pass additional tests. Taxpayers cannot have four or more Failure to Deposit penalty waiver codes. They may not have a Daily Delinquency Penalty or an event-based filing requirement. First Time Abate Example — Assume that Taxpayer did not fully pay taxes for year 2024. Taxpayer called the IRS and requested penalty relief. The IRS gave Taxpayer a First Time Abate relief up to the date of the...
More
Personal Planner
Many friends of charities have benefited from a gift of land or a gift of land with a building or other structure. There...
More
scriptsknown