Could You Be Eligible for a Refund of COVID-Era IRS Penalties?

If you paid or were assessed IRS penalties or interest during the COVID-era period, a recent federal court decision may be worth reviewing.

The case, Kwong v. United States, raises an important question: could certain federal tax deadlines have been postponed for the full COVID-19 emergency period, plus an additional 60 days? If so, some taxpayers may have been assessed penalties or interest that could potentially be refunded or abated.

At Larson Gross, we’re monitoring this issue closely. Refunds are not automatic, and the rules are still developing, but some taxpayers may want to review their records now.

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