IRS Tax Refunds: What are the interest rates for delayed refunds?

The national director of tax technical services at CBIZ Inc., Bill Smith, has claimed that

The national director of tax technical services at CBIZ Inc., Bill Smith, has claimed that

the majority of the Americans may not be aware that the IRS pay interest on delayed refunds.

the majority of the Americans may not be aware that the IRS pay interest on delayed refunds.

"I would add they probably don't care that much about it because in general,

"I would add they probably don't care that much about it because in general,

it's not going to be a big number," he noted.

it's not going to be a big number," he noted.

"The sooner they get their money from the government, the happier they are."

"The sooner they get their money from the government, the happier they are."

the good news is that the IRS will pay an interest of four percent for those

the good news is that the IRS will pay an interest of four percent for those

who have been waiting for more than one and a half month to receive their refunds.

who have been waiting for more than one and a half month to receive their refunds.

The IRS tends to raise that interest rate depending on inflation, which means that

The IRS tends to raise that interest rate depending on inflation, which means that

the rates for delayed refunds could be up to six percent by the end of this calendar year.

the rates for delayed refunds could be up to six percent by the end of this calendar year.

thanks for reading

thanks for reading