The IRS announced on its website that overpayment interest, on individual 2019 refunds with respect to returns filed by July 15, 2020, will run from April 15, 2020, until the date of the refund. Interest is allowed and paid on any overpayment in respect of any internal revenue tax. Overpayments are shown on Form 1040 as a refund. For individuals, the date of overpayment of income taxes is the due date of the income tax return, without regard to extensions. Also, by law, the interest rate on both overpayment and underpayment of tax is adjusted quarterly. Note that taxpayers may receive interest payments separately from refunds. For additional details: https://bit.ly/2BIkMk4 Call or visit our website for more information! www.mjscpa.com/
