The bottom line, is that if you filed your tax return on time, then you should receive an interest payment, either included in your refund or as a separate payment.
The amount of interest will be around $3 per $1000 of your refund for each month that your refund was paid later than April 15. Refunds paid before April 15 don’t receive interest.
This is actually not new news, the IRS originally announced this in June, although they have made a more recent announcement that they will be sending separate checks to people whose interest payments were missed the first time around.
What I don’t understand is why the interest calculation date is April 15 instead of 45 days after April 15, which is what it would be in a normal year. But I have not had a chance to look at the tax code section to see why this quirk exists.
