DESCRIPTION
COVID-19 Interest Abatement and Refund: Kwong, Abdo, and Section 7508A
For soldiers deployed in war zones, Section 7508 of the Revenue Code suspends deadlines for many tax related actions, including filing returns and paying taxes. Section 7508A extends those benefits to civilians during declared disasters. When the COVID-19 emergency was declared in January 2020, IRC Section 7508A triggered a nationwide suspension of certain tax-related deadlines. That suspension remained in place until the state of emergency ended in May 2023.
This CLE will explore the statutory framework, key litigation developments, and potential avenues for taxpayer relief related to the suspension of deadlines and interest during the COVID-19 emergency.
Participants will learn:
- The statutory structure of Section 7508A
- The regulations issued to limit its scope in response to COVID-19
- Key court decisions holding those limiting regulations invalid
- Potential avenues for relief, including refunds of interest and important pending cases
- Using AI to calculate refund amounts
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.