Wyden Statement on IRS Announcement on Penalties

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in response to an IRS announcement that taxpayers who paid at least 80 percent of their estimated taxes would not face penalties:

“The Trump administration is taking a step to undo the harm the Republican tax law inflicted on millions of families whose taxes were under-withheld through no fault of their own. Piling penalties on top of unexpectedly high tax bills while corporations and the wealthy reap a windfall would have been a slap in the face. It shouldn’t have taken nearly three months to provide additional relief to families facing financial anxiety, but I’m pleased the administration has taken the action we requested.”

Wyden first raised the issue of penalties for families whose taxes were under-withheld in a January 3, 2019 letter to IRS Commissioner Charles Rettig. Wyden and Leader Chuck Schumer, D-N.Y., then led 39 Senate Democrats in a follow-up February 15, 2019 letter expressing concern that the 85 percent threshold was not sufficient.

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