Tax refund and interest

4 replies
45 views

Hi:

Filed our taxes and return accepted on May 12, 2021 for 2020. Received refund today; except the refund was $2.62 higher than amount on return.

I checked IRS transcript, and IRS computed tax = TT computed tax.

So, why the extra $2.62?

Does IRS pay interest on refund if after April 15?

I always thought, and could be wrong, that no interest is paid if filed within due date, even if due changed by IRS. Perhaps that is wrong and interest is paid for all refunds claimed after April 15?

Thank you

Not A Product Question

SweetieJean

Alumni - Champ

I also received interest in the same situation. Not sure why the IRS is doing this, but I wouldn't worry about it.

VolvoGirl

Level 15

Better make a note for next year's tax return. If it is interest it will be taxable.

LudwigVan_fan

Author

Alumni - Champ

Good point, but not going to worry too much about $2.62 🤔 🤔

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