Ask Terry Questions my irs refund

my irs refund

By Terry Savage on June 30, 2020 | Wild Card

My CPA did my 2019 taxes on 3/20…paper copy…I mailed them on 3/30…No refund as yet. long time…irs.gov has no info for me. what do Ido next Ms. Terry

Terry Says

Don’t worry. They are WAY behind on refunds, because they’ve been busy mailing out stimulus checks! And your paper return came in just as they sent all iRS employees home because of Covid! BUT — the good news is they are paying 5% interest compounded daily going back to April 15th on delayed refunds. And if you don’t get your refund in the second quarter, the interest rate is 3%. That’s better than you could get if you put the refund money in the bank! Look for it soon!

money

ASK TERRY

a personal
finance question