A recent federal court decision may make tens of millions of Americans eligible for a tax refund or abatement of penalties accrued during the first few years of the COVID-19 pandemic from the U.S. Internal Revenue Service.
Deadline to Apply
The deadline to apply for the refund or abatement is July 10. Fortunately, it is now possible to submit the appropriate form online through the IRS website.
During the COVID-19 federal disaster period, which lasted from January 20, 2020, to July 10, 2023, the government eased up on many tax rules and paused many deadlines. However, many people still paid fees for filing late, interest to the government, or penalties for not making estimated payments, or have been told they owe money.
The Taxpayer Advocate Service estimates that this applies to tens of millions of Americans, including individuals, small businesses, large corporations, estates, and trusts. The payments that could be refunded or abated apply to income, employment, estate, gift, and excise taxes.
To claim a refund, taxpayers need to file Form 843, Claim for Refund and Request for Abatement. The form can be filled out online through the IRS’ mobile-friendly forms tool. Taxpayers will need to make an online IRS account and have scans of the necessary documents ready.
Original reporting: Dallas TX News (HLL/CB) — read the source article.
