Here's Who is eligible for an IRS refund of $750 for tax penalties?
image credit : google.com
image credit : google.com
created by Team Scrollingdowns
created by Team Scrollingdowns
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.
image credit : google.com
image credit : google.com
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.
image credit : google.com
image credit : google.com
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.
image credit : google.com
image credit : google.com
But for the years 2019 and 2020, the organisation is waiving the fines for late tax filings.
image credit : google.com
image credit : google.com
The IRS estimates that 1.6 million taxpaying individuals who have previously paid a fine will be automatically refunded
image credit : google.com
image credit : google.com
They will receive credits or reimbursements totaling an average of $750 per person.
image credit : google.com
image credit : google.com
That would amount to $1.2 billion overall.
image credit : google.com
image credit : google.com
If the penalty is still unpaid, the IRS will cancel the fine.
image credit : google.com
image credit : google.com
But there is a cutoff date to be eligible for the penalty refund.
image credit : google.com
image credit : google.com
The deadline to file returns for 2019 or 2020 is September 30.
image credit : google.com
image credit : google.com
By the end of September, the IRS anticipates sending out the majority of refunds.
image credit : google.com
image credit : google.com
thanks for reading
thanks for reading
click here
click here
for new update
for new update