A Key Deadline for COVID-Era Tax Refunds Is Approaching

Anyone who was penalized for not paying their taxes or for filing late tax returns during the disaster declaration period plus 60 days may be eligible for potential refunds or abatements if the judge’s ruling holds. The same is true for those who incurred penalties for filing late foreign information tax forms, such as for international assets, gifts, or trusts.

Taxpayers who were charged interest that began accruing during that period may also be entitled to refunds, in addition to people who overpaid on interest in that timeframe.

All told, that means tens of millions of individual taxpayers, small businesses, large corporations, estates, and trusts could qualify for refund payments.

To check their eligibility, taxpayers can review their federal income transcripts, which include tax payments, penalties, and interest charges. 

Those transcripts can be accessed on the IRS website; individual or business accounts can be made using the agency’s ID.me service. You can also request your transcripts via mail, though they could take five to 10 days to arrive—meaning they could come after the deadline to make a claim has already passed.