IRS May Owe Taxpayers Billions Following Federal Court Ruling on Tax Deadlines
A new fintech platform, CovidTaxRefunds.com, has been launched to help Americans claim potential refunds from the IRS due to a landmark court ruling. The Kwong v. United States decision found that IRS penalties and interest collected between 2020 and 2023 may be refundable, with a deadline of July 10, 2026. Industry estimates suggest the IRS may have collected up to $360 billion in penalties and interest during this period.
Topics: fintech IRS penalties Kwong v. United States tax refunds tax resolution