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February 28, 2023

IRS announces lookback periods for determining eligibility for refunds and credits in COVID-19-affected tax years

In Notice 2023-21, the IRS provides lookback periods for refunds and credits under IRC Section 7508(a) for any person with a federal tax filing obligation that was postponed to July 15, 2020 by Notice 2020-23 and/or to May 17, 2021 by Notice 2021-21 (due to the COVID-19 emergency). Generally, the periods from April 15 to July 15, 2020, and April 15 to May 17, 2021, will be disregarded in determining the beginning of the lookback period for determining a credit or refund amount under IRC Section 6511(b)(2)(A).

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor