The IRS Will Pay Interest on Tax Refunds Issued After April 15 -- Even for Filers Who Haven't Submitted Their Taxes Yet
When the COVID-19 pandemic exploded in the U.S. in March, the IRS was relatively quick to push back the deadline for filing taxes from April 15 to July 15, giving Americans three more months to get their returns together at a time when so many were reeling from the crisis. That deadline extension was a helpful move in theory, as many Americans took advantage of that extra time. But that also meant that many tax filers ultimately had to wait longer to get their refunds.
But some good news just emerged on that front, because the IRS has announced that it will be paying filers interest on tax refunds that are issued after April 15. And to be clear, that includes any filer who submits a return by the July 15 deadline.
In other words, if you submit your tax return on July 10, you'll still be paid interest dating back to April 15. And at a time when so many Americans are desperate for money, that interest may really come in handy, especially if you're looking at a sizable refund.
Source Fool.com
