Here's Who is eligible for an IRS refund of $750 for tax penalties?

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More than a million people who missed the tax filing deadline during the early stages of the COVID-19 pandemic are receiving refunds from the IRS.

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IRS is sending refunds to more than 1.5 million people who missed the tax filing deadline during the early days of the COVID-19 pandemic.

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According to CBS News, fines for people who file their taxes late without an extension can amount to up to 25% of the taxes they owe.

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But for the years 2019 and 2020, the organisation is waiving the fines for late tax filings.

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The IRS estimates that 1.6 million taxpaying individuals who have previously paid a fine will be automatically refunded

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They will receive credits or reimbursements totaling an average of $750 per person.

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That would amount to $1.2 billion overall.

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If the penalty is still unpaid, the IRS will cancel the fine.

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But there is a cutoff date to be eligible for the penalty refund.

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The deadline to file returns for 2019 or 2020 is September 30.

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By the end of September, the IRS anticipates sending out the majority of refunds.

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thanks for reading

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