Bonus Tax Refunds Will Be Sent Soon – Will You Get a Check from the IRS?
The COVID-19 pandemic really messed up the 2020 and 2021 tax return filing seasons. You couldn't meet with your accountant face-to-face, IRS employees weren't answering the phones, new COVID-relief laws required tax form changes, and other odd twists and turns just made things more confusing and difficult at tax time. To give people a little more time to sort through the chaos, the IRS pushed back the tax return filing deadlines in for it. However, the good news is that some of those people and businesses are getting additional tax relief now. The IRS is sending over $1.2 billion in tax refunds to about 1.6 million taxpayers who paid penalties for late tax returns in 2020 and 2021 (in some cases a credit will be issued).
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