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trevoro1
August 19, 2020
Question

refund

  • August 19, 2020
  • 1 reply
  • 0 views

Why has IRS sent a higher refund than Turbotax calculated and submitted?

    1 reply

    VolvoGirl
    VolvoGirl
    Employee
    August 19, 2020

    They might have paid you interest for sending it late.  

    The IRS has started paying interest on Refunds.  See IRS notice posted August 18, 2020

    https://www.irs.gov/newsroom/13-point-9-million-americans-to-receive-irs-tax-refund-interest-taxable-payments-to-average-18-dollars

     

    Write a big note to yourself in your tax papers for it so you remember to enter the interest into your return next year as it will be taxable interest income.

     

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