Economics
In Zero-Rate Fed World, Americans Get 5%...on Late Tax Refunds
- The average interest payment for taxpayers is $18, IRS says
- Recipients will owe income taxes on the payments next year
Photographer: Daniel Acker/Bloomberg
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Taxpayers who took advantage of the extended July 15 tax filing deadline this year may see a little something extra from the IRS in their bank account or mailbox this week.
The Internal Revenue Service is sending interest payments -- averaging $18 -- to 13.9 million taxpayers who were due a refund and hadn’t received it by April 15, according to the agency.