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IRS statement on corporate tax refunds (COVID-19)

IRS statement on corporate tax refunds (COVID-19)

The IRS today released a statement concerning corporate tax refund claims.

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The IRS release notes that there are questions from practitioners and taxpayers on the filing of corporate and/or individual refund claims that may be available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

The statement continues:

The IRS is currently exploring available options and expects to issue filing instructions in the coming days. The IRS recommends that taxpayers await further instruction before utilizing traditional processes.

The IRS statement indicates that future information or guidance will be released.

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