A check may be coming your way as the Internal Revenue Services issues refunds totalling $1.2 billion to taxpayers by the end of September.
Refunds are being sent to approximately 1.6 million taxpayers who were charged (and paid) fees for filing their 2019 and/or 2020 federal income tax returns late. There is no form or request that has to be filed to receive the return, it will be issued automatically as long as your returns for those years were actually filed.
More good news! If you haven't filed a return for 2019 or 2020, you can still file without being charged late fees, if your return is received by September 30, 2022. Late fees can equate to as much as 25% of your unpaid tax total, so this is a great opportunity to save money.
For those that were billed for a late-filing penalty on their 2019 or 2020 returns, but have not paid, the fee will be removed from their account.
For those with other types of federal debt, the refund will be applied to their debt first, before they can receive any remaining funds.