Around 1.6 million taxpayers that paid a penalty for filing their 2019 and 2020 tax returns late will automatically get a refund from the IRS. Here's how the refunds work.
"The penalty relief issued today is yet another way the agency is supporting people during this unprecedented time," IRS Commissioner Chuck Rettig said in an August statement announcing the refunds.
The IRS said issuing the refunds would also allow the agency to"focus its resources on processing backlogged tax returns and taxpayer correspondence" ahead of the 2023 filing season.Taxpayers who file late are typically charged a penalty of 5% of what they owe per month, up to a maximum of 25% of their unpaid tax bill.
There's no need to contact the agency to ask for your money back. The IRS says the refunds will be sent automatically.The IRS just got $80 billion to beef up. A big goal? Going after rich tax dodgersThe vast majority of refunds will be sent via check while a small percentage of taxpayers will receive their refunds through direct deposit,In order to qualify for a refund under the program, individuals and businesses have to have filed their late 2019 and 2020 tax returns on or before Sept.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Don't worry, the IRS isn't hiring an 'army' of auditors—here's what's really happeningOpponents of the Inflation Reduction Act say 87,000 new IRS agents are coming to audit your taxes. Putting that number in context paints a different picture.
Weiterlesen »
Why You're Grinding Your Teeth—And How to StopBruxism, or teeth-grinding, has increased during the pandemic because of stress, anxiety, and more
Weiterlesen »
Why Fast Food Is Racing to Ditch the Dining RoomAmerica traded eating out for ordering ahead during the pandemic—and chains noticed.
Weiterlesen »
Nearly 1 in 4 Young Adults Received Mental Health Treatment Last YearSome experts say the pandemic may have exacerbated the need for care.
Weiterlesen »
Defence asks to withdraw from Fertuck trial amid law society complaintFertuck\u0027s lawyers told court they learned in late August that Fertuck filed the complaint against them in May and June, without telling them.
Weiterlesen »
More Than 69,000 People Are Experiencing Homelessness in LA – An Uptick From Last CountIn L.A.’s first homeless count during the pandemic, the numbers are still going up. But officials say there’s a “flattening of the curve.”
Weiterlesen »