IRS Tax Rebate: Additional rebates of up to $750; Check date and eligibility

The average refund will amount to about $750 per taxpayer. As many taxpayers are still impacted by the pandemic, they are still in dire need of the economic aide that the IRS is trying to offer them.

The agency is trying to focus on processing backlogged tax returns and taxpayer correspondence in order to make 2023 filing a lot smoother than this year’s tax filing.

Who qualifies for these IRS Tax Rebates?

The folks who qualify for these IRS Tax Rebates don’t need to apply as the payments are automatic and will be sent out during the final days of September.

This applies to folks and businesses who filed certain 2019 or 2020 returns late and were sanctioned with the failure to file a penalty. Such a punishment is typically taxed at a rate of 5% per month.

But the rate increases to 25% of that same unpaid tax if a federal income tax return doesn’t arrive in time. In order to qualify for returns, the ones eligible in 2019 need to have been filed by August 1, 2020. The returns from 2020 must have been filed by August 1, 2021.

Due to both of these deadlines falling on a weekend, the 2019 return will still be considered if you managed to file it by August 3, 2020. The one from 2020 will still be considered if you filed it by August 2, 2021. In order to qualify for this one, all eligible income tax returns must be filed on or before September 30, 2022.