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Financial News

IRS to pay interest on delayed refunds

Interest to be accrued beginning July 1

WASHINGTON (UPI) -- The Internal Revenue Service (IRS) said Friday it will pay 5% interest to people with delayed tax returns starting in July. That's up a full percentage point from the last interest rate increase in April. In a Friday statement, the agency said the new rates on delayed refunds, considered overpayments by the IRS, will be 4% for corporations starting July 1. The interest will be 7% on large corporate underpayments exceeding $10,000, according to the agency. Explaining how […]

todayMay 21, 2022

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