Nearly 14 million taxpayers who waited until July 15 to file their taxes will be paid interest on their refunds, the IRS said Tuesday.
The Treasury Department delayed the tax filing date for three months due to disruptions caused by the coronavirus pandemic, and the tax agency will pay interest on refunds that go out after July 15 based on the normal April 15 deadline.
The average payment will be $18 – not much, but high enough to be taxable. Anyone receiving more than $10 in interest will have to report it as income on their tax return next year.
