Summary
A court ruling could allow Americans to get back money from penalties and interest wrongly charged by the IRS during the COVID-19 period. Tax deadlines that should have been extended could mean refunds for those who filed early and were incorrectly penalized.
Key Facts
- A court decided the IRS may have wrongly charged penalties and interest during COVID-19.
- Tax deadlines for 2019-2022 should have been extended to July 10, 2023.
- Eligible taxpayers have until July 10, 2026, to claim refunds.
- Section 7508A(d) of the U.S. tax code says deadlines should automatically extend in declared disasters.
- Taxpayers who filed early during the pandemic may get refunds for penalties.
- Individuals and businesses charged during this period might be eligible.
- People should check their IRS account transcripts to see if they qualify.
- Refund claims require a form, and professional guidance may help in the process.
