2007-02-22 11:40:53 · 5 answers · asked by JustAsk'n 3 in Business & Finance ➔ Taxes ➔ United States
The IRS interest rate is currently 8%. They don't pay interest on refunds unless the delay is due to IRS fault. For a timely filed return, interest does not accrue until 120 days after the filing deadline, or 120 days after the return is filed, whichever is later.
2007-02-22 12:10:02 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Irs Refund Interest Rate
2016-12-08 18:10:43 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Well, despite the other two posters, the IRS does pay interest on refunds.
I had amended 2001 and 02's tax return and received the extra money I should've gotten plus interest. Then I had to claim the interest on my '04 return.
If you are due a refund, you may get interest on it. The interest rates are adjusted quarterly.
If the refund is made within 45 days after the due date of your return, no interest will be paid. If you file your return after the due date (including extensions), no interest will be paid if the refund is made within 45 days after the date you filed. If the refund is not made within this 45-day period, interest will be paid from the due date of the return or from the date you filed, whichever is later.
2007-02-22 12:04:33 · answer #3 · answered by Celeste 6 · 2⤊ 0⤋
The IRS does NOT pay you interest on your tax refund. That's why I have it set up so I break even - no refund, no pay. Why should they use MY money interest-free?
2007-02-22 11:44:21 · answer #4 · answered by zippythejessi 7 · 2⤊ 2⤋
Do you mean that you expect your government to pay interest on your money? Silly naive girl.
2007-02-22 11:49:12 · answer #5 · answered by Anonymous · 0⤊ 2⤋