Grok Half of America receives reassuring news from SSA: you'll get it in your account
Resounding applause from thousands of Americans for a measure by the government and SSA that benefits many
Social Security (SSA), together with the IRS and the federal government, has sent a reassuring message to millions of taxpayers. This notice will please a large number of United States citizens because of the relief it brings.
If the IRS owes you a refund, you'll still receive it, even if you filed your return after the deadline. That's the big signal from the IRS, a genuine gesture that relieves many.
IRS Won't Fine You If You File This Late: Know the Reason
According to the IRS website, there is no penalty for filing late if you're entitled to a refund. This means that if the result of your return is in your favor, you can file late and still receive the money.
The government's explanation is simple: in these years, especially after the pandemic, many people were delayed or didn't file their returns. The IRS found that applying fines in refund cases was counterproductive and caused unnecessary stress.
What's Behind This Approach and How SSA Justifies It
That's why they decided to offer automatic relief, validated by SSA and reflected in their systems. Specifically, they won't fine those who file late and receive money. SSA supports this measure, as it seeks to avoid confusion in payment flows and ensure that refunds arrive without complications.
However, this doesn't mean there are no consequences if you owe the IRS. If the return results in an amount to pay and is filed after the deadline, fines and interest do apply.
Specifically, the late filing penalty is 5% of the tax owed for each month or part thereof, up to a maximum of 25%. In addition, if payment is also not made, there's an additional charge of 0.5% per month irs.gov. They can be combined and increase quickly.
Refunds Shouldn't Be Penalized
This is the difference: those who receive a refund are relieved and have good news, with no fine or interest, while those who owe money and file late face surcharges.
What SSA and the IRS explain to the government and the media is this: refunds shouldn't be penalized, it's a way to take care of taxpayers. It's a gesture that conveys trust. Meanwhile, for those who owe taxes, the penalty scheme is kept to ensure tax compliance.
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