Why You May Have Received a Refund Check After Paying Your 2024 Taxes

If you recently filed your 2024 federal tax return and made a payment with your filing, but then received an unexpected refund check from the IRS, you might be wondering what happened.

The good news: It’s not a mistake. In most cases, this refund is the result of the IRS waiving the estimated tax penalty for the fourth quarter of 2024.

What Caused the Refund?

Many taxpayers who submitted their 2024 return with a balance due may have included a penalty for underpayment of estimated taxes—particularly for the final quarter of the year (Q4 2024). However, due to recent IRS relief measures related to natural disasters in Florida, including the Milton storm disaster, this Q4 penalty has been waived for most affected taxpayers.

If you were assessed this penalty and paid it when filing, the IRS may have later removed it from your account and issued a refund for the amount.

Who Qualifies?

You likely received this refund if:

• You are a Florida resident (or operate a business in Florida)

• You filed your 2024 tax return with a payment that included a Q4 underpayment penalty

• The IRS later retroactively waived the Q4 penalty due to federal disaster relief provisions

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What You Should Do

• Check your IRS account transcript online at irs.gov to confirm the refund was for a waived penalty.

• Keep the check or direct deposit as part of your tax records.

• No additional action is required unless you believe the amount refunded is incorrect.

  
  

If you're unsure whether your situation qualifies or want help interpreting the refund, our team is here for you.