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IRS Refunding Late Filing Penalties for 1040 & 1120 Returns

The IRS has announced that due to Covid-19, they will be issuing about $1.2 billion in refunds/credits for 1040 & 1120 filers who paid a late filing penalty. This could apply to you if you filed your 2019 return by August 1, 2020 or your 2020 return by August 1, 2021.

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