The next time you check your bank account, you might find a small surprise among your regular payments and purchases.
Nearly 14 million individual taxpayers will receive a small interest payment in the coming weeks, the IRS announced recently. The payments will average around $18 and will be deposited in the same manner that individuals received their tax returns — for most this means a direct deposit to their bank account. The rest will be mailed out with a notation on the check indicating it is a refund interest payment.
Why is the federal government paying you interest? By law, the IRS is required pay interest on tax refunds if it is more than 45 days late in issuing a refund for an on-time tax return. In other words, if you are set to get money back from your taxes, and you filed ahead of