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?
It's very odd....here's a quote from 26 U.S. Code Section 6611(e)
(e) Disallowance of interest on certain overpayments
If any overpayment of tax imposed by this title is refunded within 45 days after the last day prescribed for filing the return of such tax (determined without regard to any extension of time for filing the return) or, in the case of a return filed after such last date, is refunded within 45 days after the date the return is filed, no interest shall be allowed under subsection (a) on such overpayment.
Like I said before, odd and no difference on transcript between return tax and IRS computer tax. Such a small odd amount must be interest...unless due to some change in policy relating to the COVID bills????
Good point, but not going to worry too much about $2.62 🤔