The IRS is introducing an automatic penalty-relief program that could provide financial relief to eligible small businesses that miss certain tax deadlines despite a history of compliance, Forbes reports. The Automatic Exemption from Penalty program, or AEP, is expected to launch later this summer and replace the agency's First Time Abate process, according to the outlet. The program will apply beginning with the 2025 tax period and 2026 quarterly returns, as well as future tax periods. Under the IRS' First Time Abate process, eligible taxpayers generally had to request penalty relief. For small-business owners facing temporary financial disruptions, the new system could make penalty relief more accessible by applying it automatically to eligible taxpayers rather than requiring them to request it.