The IRS is sending tax refund interest payments. The IRS announced the payments will be made to about 13.9 million individual taxpayers. The interest payments, averaging about $18, will be made to individuals who filed 2019 returns by this year’s July 15 deadline and either received a refund in the past three months or will receive a refund. They’re being made due to this year’s extended COVID-19-related July 15 due date. In most cases, taxpayers who received their refunds by direct deposit will have their interest payments direct-deposited in the same accounts. Everyone else will receive a check. The interest payments are taxable and must be reported on 2020 tax returns. Call or visit our website for more information! www.mjscpa.com/
