"The plain meaning of that statute is that the automatic extension runs from the beginning of the disaster declaration, through the end of the declared disaster period, and until 60 days after the end of the declared disaster period."
"If that view holds up, taxpayers who were charged late-filing or late-payment penalties or interest during the COVID period may have been charged on returns and payments that, by the court's reading, were never actually late."
Taxpayers may be eligible for refunds from the IRS for penalties and interest incurred during the COVID-19 pandemic. The IRS imposed over 12 million estimated-tax penalties and 16 million failure-to-pay penalties in fiscal 2022, totaling over $12 billion. A court ruling in Kwong v. United States interpreted tax deadlines as automatically extended due to the pandemic. Taxpayers charged late penalties may have been incorrectly penalized, as the court's interpretation suggests their returns were not late. Claims must be filed by July 10 to qualify for refunds.
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