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The IRS May Owe You Money (Yes, Really)

Whether you are a business owner or an individual taxpayer, recent legal developments could potentially impact certain IRS penalties tied to the COVID-19 period.

In Kwong v. United States, it has been reported that the court addressed questions regarding the IRS’s authority to assess certain penalties and interest during the COVID-19 disaster period (January 20, 2020 – July 10, 2023). The implications of this ruling may be significant, but further legal clarity and potential appeals are still expected.

The IRS does not automatically issue refunds in these situations. To preserve your rights, taxpayers may consider filing a “Protective Claim” using IRS Form 843 before the July 10, 2026 deadline, where applicable.

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We help clients review IRS transcripts to identify potential overpayments and opportunities that may otherwise be missed. Don’t let technicalities prevent you from reviewing what you may be entitled to.

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