Slow Refund? IRS May Owe Interest

The Internal Revenue Service, which was slow getting out refunds this year, started paying interest June 1 (or 45 days after the return is filed, whichever is later) for any money due where there is no outstanding dispute. If you haven’t received your refund by now--and haven’t been contacted for additional information--call the agency at (800) TAX-1040 to get the status of your return. If the agency has asked you for additional information, get on the phone--or send it--as soon as possible. If a refund delay is the IRS’ fault, not yours, they pay 9% per year. But it’s worth noting that roughly $50 million in refunds go uncollected each year because taxpayers move and don’t leave forwarding addresses.