gettyBy the time the IRS delayed Tax Day 2020 from April 15 to July 15 due to the coronavirus pandemic, many people had already submitted their 2019 tax returns. The IRS now has announced that it won’t charge bad check penalties for payments it received between March 1 and July 15 that were not processed. IRS Penalty for Dishonored ChecksThe IRS penalty for a dishonored check—meaning your financial institution couldn’t complete the payment you had initiated—depends on the amount of the payment. But while the IRS won’t charge fees for bad checks due to its mail-handling backlog, you could still face charges from your bank. If your financial situation changed between the time you mailed your tax payment check and the time it was processed and your tax payment check was returned, explain that situation to your bank and ask for the associated fees to be waived.

Source: Forbes August 27, 2020 16:30 UTC