Does the April 2026 IRS guidance (CCA 202617012) help reduce my $25,000 Form 5472 penalty?
I missed filing Form 5472 for my Wyoming LLC in 2023 — I genuinely did not know the form existed. I just received an IRS notice with $25,000 in penalties. Someone in a forum mentioned the IRS issued new internal guidance in April 2026 about reasonable-cause relief for small filers. Does that help me? My LLC's annual gross receipts have been under $50,000 every year.
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