IRS Sends 750 Dollars Refunds
Here’s what you need to know…
As you may already know, the Internal Revenue Service (IRS) is sending refunds to over 1.5 million Americans who missed their tax filing deadlines in the early days of the COVID-19 pandemic.
According to MLive, taxpayers who typically file late are forced to pay up to 25% of the taxes they owe in penalties. Now the IRS is waiving those fines for taxes filed late in 2019 and 2020.
It is estimated that 1.6 million American taxpayers who already paid their fines will receive an immediate refund. The average for each refund will be about $750 per person amounting to a total of 1.2 billion dollars.
Furthermore, Americans who have yet to pay these fines will have their fines eliminated.
Americans who still have not filed their taxes for 2019 and 2020 must file their taxes by September 30th.
