It may be a good time to access your IRS tax transcripts. Millions of taxpayers may qualify for refunds of COVID-era IRS penalties and interest — but these refunds aren’t automatic. Reviewing your IRS transcripts can reveal key details about your account activity. Focus on dates and transaction entries such as tax assessments, payments, penalties, interest charges, adjustments and refunds. If you incurred penalties or interest for missing tax filing or payment deadlines between Jan. 20, 2020, and July 11, 2023, you may be eligible for a refund or abatement by filing a protective claim before July 10, 2026. An IRS online account is the quickest way to get transcripts. Contact us for guidance.
