IRS to pay 5 percent interest to individuals with delayed tax refunds

The IRS will start paying 5 percent in guaranteed interest 

The IRS will start paying 5 percent in guaranteed interest 

to individuals with delayed tax returns beginning in July,

to individuals with delayed tax returns beginning in July,

up a percentage point from the last interest rate hike that took effect in April.

up a percentage point from the last interest rate hike that took effect in April.

The agency will also pay 4 percent interest on delayed corporate tax returns, 

The agency will also pay 4 percent interest on delayed corporate tax returns, 

5 percent on underpayments on tax returns and 7 percent for "large corporate underpayments,"

5 percent on underpayments on tax returns and 7 percent for "large corporate underpayments,"

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