For starters, lots of taxpayers and professional tax preparers got sick.
Offices closed, sometimes making it harder to gather the necessary documents.
And you couldnt get the IRS on the phone.
It was a tough time, and paying your taxes wasnt exactly everyones top priority.
However, you have to file your overdue returns by Sept. 30 to qualify.
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This penalty relief will be automatic for people or businesses who qualify,saidIRS Commissioner Chuck Rettig.
Theres no need to call.
The refunds apply to the IRS failure-to-file penalty.
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Why is the IRS doing this?
But the refund doesnt cover those.
You dont have to do anything.
Your refund should automatically arrive in your mailbox or bank account by the end of September.
Most taxpayers will get checks.
Taxpayers who have online IRS accounts may receive direct deposits to their bank accounts.
This refund doesnt include failure-to-pay penalties.
It covers only failure-to-file penalties.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
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