what is the percent in interest that the IRS pays you back owned money with?

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what is the percent in interest that the IRS pays you back owned money with?

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2007-03-22 23:09:42 · 3 answers · asked by John 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

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2007-03-22 23:48:04 · answer #1 · answered by Gem 7 · 0⤊ 1⤋

The IRS does pay interest on money that they owe you, after a period of time that is. The rate is the same as the rate that they charge you, currently 8%. The rate changes quarterly but has been fairly stable for a while now.

2007-03-23 06:21:09 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 1⤋

The IRS does not pay interest on your over-payment of taxes. They only charge interest and penalties if you don't pay the entire amount owed. Not quite fair is it?

2007-03-23 06:19:02 · answer #3 · answered by Anonymous · 0⤊ 1⤋