IRS Will Refund $1.2 Billion in Pandemic-Related Late Fees

On Wednesday, the Internal Revenue Service stated that

it will waive late costs for people who had trouble submitting their tax returns by the deadline due to the pandemic.

According to the IRS, more than 1.6 million taxpayers will be exempt from penalties totaling more than $1.2 billion.

By the end of September, the tax authority will automatically provide credits or refunds for the majority of the fees.

"The IRS has worked hard to support the nation and help people in many different ways during the pandemic,"

Chuck Rettig, the IRS commissioner, stated in a statement on Wednesday.

"The penalty relief announced today is simply another way the department is assisting citizens at this unprecedented period.

There is no need to call; this penalty reduction will be granted automatically to those who qualify.

The relief will apply to tax returns for 2019 and 2020 that were due to the IRS in 2020 and 2021.

To avoid paying late fines, taxpayers must file any unfiled taxes by September 30, 2022.

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