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Some Taxpayers Getting IRS Refund Interest Checks

Many people may not realize that this year, with the three-month extension of the tax-filing deadline, due to the coronavirus, their refunds have included interest. And David Tucker, with the Internal Revenue Service, says nearly 14-million individual taxpayers, nationwide will get their interest as separate payments. That’s if their refund arrived after the traditional deadline…

click to listen to “David Tucker

Tucker says the uncommon payments average 18 dollars and you must still have filed by this year’s July 15th deadline. The payments also include the notation “INT Amount”, to assure taxpayers that they’re legitimate and not a scam…

click to listen to David Tucker

But, by law, these interest payments are taxable and those who receive them must report the interest on the 2020 federal income tax return they file next year. In January, the IRS will send appropriate form to anyone who receives interest totalling at least ten-dollars. Businesses are not eligible.

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