Ask Terry Questions Federal tax refund

Federal tax refund

By Terry Savage on July 12, 2020 | Wild Card

You said on WGN news that paper tax returns are piled up on someone’s desk and irs will get to them. I sent a paper return in March and have not received my refund. Do you have any idea when I should expect to receive it. Thanks

Terry Says

Should be soon — but in the meantime, they are paying you interest back to April 15th – -and at a higher rate than you could get in the bank! It’s 5% for the April 15-June 30 period. And 3% for the second quarter.



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