The IRS May Owe You Money: What Taxpayers Need to Know About the Kwong Case

Did you pay IRS penalties during COVID? Because you may actually be owed money back by the IRS.

There’s a new federal court case called the Kwong case that’s getting a LOT of attention in the tax world right now.

Why?

Because the court questioned whether the IRS should have charged certain penalties and interest during the COVID disaster relief period.

That means millions of taxpayers who paid penalties between 2020 and 2023 could potentially qualify for refunds.

Now before you get too excited, the government already filed an appeal.

BUT here’s the important part…

Taxpayers may NOT be able to wait until the case is over to act.

Why? Because refund deadlines are still running right now. So this could become a ‘use it or lose it’ situation.

If you paid failure-to-file penalties, failure-to-pay penalties, or underpayment interest for the 2020-2023 tax periods, you may want to review your IRS account immediately.

And no, the IRS is NOT automatically sending refunds right now.

This is called the Kwong case, and taxpayers need to know about it NOW.

Follow for more IRS updates and tax relief news.