How is interest that is owed to me by the government calculated? I have read that they must pay interest, which is currently 8%. Does anyone know how that is compounded?

[mattngloria]

I filed my taxes mid February, and still have not received my refund, which finally shows as accepted.

[Opus 17]

Yes, the interest rate is variable and is adjusted each quarter, currently is 8%.

https://www.irs.gov/payments/quarterly-interest-rates

The IRS must pay interest on your refund if they pay the refund more than 45 days after you file your return AND they pay after April 15.  The interest will be taxable income on next year's tax return.