My refund from the IRS was almost $400 more than expected. It has been 3 weeks and I have not received anything from the IRS to explain. I filed in March and finally got the refund in October. I am curious if I made an error or if this is some kind of interest? My refund was more than $26,000.
Any advice on my next step as I don’t want to make any errors if that is the issue.
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Chances are it is interest for the late processing for which you will get a letter in January for the taxable interest to report on the 2021 return ... check your online account with the IRS ... https://www.irs.gov/payments/view-your-tax-account
it would take a huge refund to generate that much interest for six months delay.
They said their refund was 26,000. That seems pretty big.
If it is for interest don't forget to add it to next years return.
I didn't notice that,
$26,000 is the number that popped out of my calculator. Really.
400 / (3% x 1/2year) = 26,667
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