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

image credit : google.com

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

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

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

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

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

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

image credit : google.com

That would amount to $1.2 billion overall.

image credit : google.com

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

image credit : google.com

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

image credit : google.com

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

image credit : google.com

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

image credit : google.com

thanks for reading

for new update