A sweeping legal interpretation of pandemic-era tax rules could mean millions are unknowingly owed money by the IRS.
Millions of taxpayers may now have a fresh opportunity to reclaim penalties paid during the COVID-19 pandemic, following a court decision that has dramatically reshaped how tax deadlines should be applied. What was once considered routine late-payment charges could now be deemed invalid. The development has triggered urgency among financial experts, who warn that while the potential for a tax refund is significant, the window to act is limited.
