Ask Terry Questions Federal income tax refund

Federal income tax refund

By Terry Savage on July 08, 2020 | Wild Card

I’m not sure if this falls under the category of personal finance, but I’m hoping you can point me in the right direction. We mailed our federal income tax return in mid March. We still haven’t received our refund check. (Lesson learned-we’ll be doing direct deposit going forward). We’ve gone onto the IRS website and been informed there’s no record of our return. This has never happened to us in 42 years, so I’m wondering if it’s due to the pandemic. Do you have any advice for us?
Thank you,

Terry Says

This has happened to MILLIONS of Americans who filed in March, just as the IRS sent its employees home! Now it is overwhelmed catching up after getting stimulus payments out — adn those are behind too.
If you are owed a refund, they are paying interest at 5% back to April 15th for the second quarter, and at a rate of 3% for the third quarter. And the interest check might come separately from the refund check. Be patient.



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