I just received my NOA for 2020. During last year, I received COVID relief benefits and my income was less than $75,000 so I know I should qualify for interest relief program till 2022. However, on my NOA, I'm seeing 2 conflicting dates for payment.
At the beginning of my NOA, it says "To avoid additional interest charges please pay by May 19, 2021".
However, later on under "
Explanation of changes and other important information" section, there is a message saying: "Because you received COVID-related benefits in 2020 and your taxable income was $75,000 or less, we are providing flexibility for paying the balance you owe on your 2020 tax return. The interest that would normally be charged starting on May 1, 2021, will be waived until April 30, 2022. We will start charging interest on any unpaid balance from your 2020 return on May 1, 2022. We are still charging interest on any unpaid balances from previous years. "
So I am a little confused, I know all the current tax balance is due to 2020 income, not previous years. I'm still confident that I'm qualified for interest relief to 2022 but want to double check if anyone has seen similar on their NOAs.
Thanks!
At the beginning of my NOA, it says "To avoid additional interest charges please pay by May 19, 2021".
However, later on under "
Explanation of changes and other important information" section, there is a message saying: "Because you received COVID-related benefits in 2020 and your taxable income was $75,000 or less, we are providing flexibility for paying the balance you owe on your 2020 tax return. The interest that would normally be charged starting on May 1, 2021, will be waived until April 30, 2022. We will start charging interest on any unpaid balance from your 2020 return on May 1, 2022. We are still charging interest on any unpaid balances from previous years. "
So I am a little confused, I know all the current tax balance is due to 2020 income, not previous years. I'm still confident that I'm qualified for interest relief to 2022 but want to double check if anyone has seen similar on their NOAs.
Thanks!