IRS Paying Interest to Taxpayers

If you happen to see an additional small deposit into your account from the IRS, here is why:

Many individual taxpayers whose 2019 tax returns show refunds will receive interest from the IRS. The regular April 15 due date for filing returns and paying income taxes was postponed to July 15, 2020, as part of the IRS response to the COVID-19 pandemic. The IRS is required by law to pay interest on tax refunds due to individual taxpayers affected by the federally declared disaster who filed their Federal tax returns for 2019 on or before the postponed due date of July 15, 2020. The over payment interest will generally accrue from the original April 15 due date, rather than the postponed due date of July 15.

For full article:  www.irs.gov

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