1.6 million taxpayers will get unexpected refunds from the IRS.

The IRS says that late-filing penalties from the past few years will be refunded to millions of taxpayers.

The refunds will cover penalties from the tax years of 2019 and 2020.

The IRS will take it out of your account if you got a late-filing penalty for either of those years but haven't paid it yet.

If you've already paid for it, you'll either get a credit or a refund.

For some taxpayers, that could be a very big deal.

Individuals who don't file their federal income tax returns on time usually have to pay a penalty of 5% of their unpaid tax bill per month.

This penalty can go as high as 25%.

To avoid the penalty, individuals must file their tax returns by September 30, 2022.

That deadline is for filing your taxes for 2019 and 2020, which you may have already done.

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