Stockreport
Millions of Americans may be owed a tax refund from COVID. How to get it. [Yahoo! Finance]
Last western digital corporation earnings: 4/30 04:01 pm
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US:NASDAQ Investor Relations: investor.wdc.com
worthwhile to stir up the past to see if they may qualify for an IRS refund , tax attorneys said. Once a federally declared disaster is in effect, tax code Section 7508A(d) mandates postponement of applicable tax deadlines for the disaster period plus 60 days. A federal court ruled last November that the COVID-19 public health emergency from Jan. 20, 2020, through May 11, 2023, fell under this provision. Add in 60 days, and the new tax deadline for tax year 2019, 2020, 2021 and 2022 filings would have been July 10, 2023. Without taxes due, the IRS likely also had no right to levy penalties and interests during that window, tax lawyers said. So, if you were charged penalties or fees, you may be owed a refund, they said. The IRS will probably appeal the ruling, but taxpayers can't wait that long to make a claim. By law, taxpayers only have limited time to file for a potential refund or reduction in penalties or interest. "Millions of taxpayers could be eligible, but if people do
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