2007-05-07 14:26:24 · 6 answers · asked by sel_bos 3 in Business & Finance ➔ Taxes ➔ United States
They owe me tax for 3 years.
2007-05-07 14:46:23 · update #1
If you just filed the returns, then no interest is paid on refunds due on delinquent returns.
If you filed an amended return and have a refund coming, they will pay interest on any refund due, the percentage is based on the interest rate during the period (quarterly) that the IRS charges for underpayment of taxes. The current rate for the 2nd Quarter of 2007 is 8% but the rate has been as low as 4% in 2004
2007-05-07 14:56:34 · answer #1 · answered by Anonymous · 4⤊ 1⤋
You might or might not be owed interest. If you're getting a refund and they get it out within the specified period of time (something like 45 or 60 days), then you aren't owed any interest. If they take longer than that, it's whatever their rate currently is.
If you filed a tax return late, you're probably out of luck for getting interest, since it's your fault, not theirs, that you didn't get your money when you were supposed to.
2007-05-07 21:44:20 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
if they make a mistake they will pay you,, if you pay too much tax in and are getting a refund, that is not the fault of the IRS, so no interest.
2007-05-07 21:46:48 · answer #3 · answered by Jo Blo 6 · 3⤊ 2⤋
OMG! That's sooo funny!
2007-05-07 21:31:46 · answer #4 · answered by MissWong 7 · 0⤊ 4⤋
hahahahahahahahahhahahaahahahahahaha
great one!
Why don't we fire the IRS !
2007-05-07 21:29:44 · answer #5 · answered by tomkat1528 5 · 0⤊ 6⤋
none
2007-05-07 21:30:34 · answer #6 · answered by tinkerbelle1892 1 · 0⤊ 6⤋