Multistate – Last-minute tax filers could receive surprise IRS bonus

Some Americans may still be waiting to receive their 2019 tax refunds from the IRS – or still waiting to file altogether – and that could mean their checks might be a little bit larger upon receipt.

The tax agency announced this week that it would pay interest on individual 2019 refunds for returns filed by July 15 – the delayed tax deadline. Interest will “generally be paid from April 15, 2020 until the date of the refund,” the IRS said.

Interest payments might be received separately from the refund itself.

The agency’s interest rate in the second quarter, ending June 30, is 5 percent per year – compounded daily. For the third quarter, which ends Sept. 30, it is 3 percent per year.

For more information visit

Fox business
june 25, 2020