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IRS to Wipe Away $1.2 Billion in Late Fees From Pandemic

Aug. 24, 2022, 3:35 PM

The Internal Revenue Service announced Wednesday that it will wipe out late fees for taxpayers who struggled to file their tax returns on time during the pandemic.

The IRS estimates that nearly 1.6 million taxpayers will receive more than $1.2 billion worth of penalty relief. The tax agency will automatically issue the refunds or credits for most of the fees by the end of September.

“Throughout the pandemic, the IRS has worked hard to support the nation and provide relief to people in many different ways,” IRS Commissioner Chuck Rettig said in a statement Wednesday. “The penalty relief issued today ...