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Interest on tax refund not received

By Terry Savage on June 29, 2020 | Wild Card

I missed you on the news on a day I was told you talked about making interest on your tax return if you haven’t received it yet. I mailed mine on March 6th and still unable to get any information about when I will receive it.

Terry Says

Your paper return is one of millions that arrived just as the IRS was sending workers home for the pandemic. They are paying 5% interest back to April 15th for the second quarter. In the third quarter — starting July 1st — the interest rate is only 3% — but still far better than you would get in a bank! And the interest payment will come separate from your refund check.

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