The Internal Revenue Service said Wednesday it was waiving late-filing penalties and issuing refunds to 1.6 million taxpayers who missed extended filing deadlines for tax year 2019 and 2020 federal income-tax returns.
The automatic refunds of penalties and interest to individual and business taxpayers will total $1.2 billion. That works out to an average refund of about $750.
Source: https://www.wsj.com/articles/irs-waives-1-2-billion-in-late-filing-penalties-for-income-tax-returns-11661363047?siteid=yhoof2&yptr=yahoo