IRS is paying out 3 to 5% interest compounded DAILY on almost all refunds issued after April 15th!

so people with tons of kids that get huge refunds get even more. That's wonderful (sarcasm)

I wrote a check..

Why are we even paying taxes to these morally corrupt people. I'm ready to lead a revolution. Enough is enough.

Damn. Last year I changed my filing status to make sure I got a large refund because I was planning on having a deck put in this year. I ended up with a $7000 refund. But I filed my taxes in January.

Holy shit I wonder how much I could've gotten if I had waited!?

I almost didn’t send in my quarterlies

I'll believe it when I see it but then if it is more than what is expected on my tax form....I will be worried about it that they will come back at some future date and claim they made a mistake and want it back. That would be painful...

My son is due $4500. Mailed it in late March and just a month ago it finally went from received to reviewing. He is gonna be one happy camper.

taxes in 2020?

they fucking shut down the nation.

no one owes them anything

Ed Brown thought so too.

I paid for that.

If you’re getting a $4000 return you’ll get like $27 in interest....wow

It's so amazing that people can't see the bait and switch. This is all going snap back like a mofo and all you idiots that are being grifted are going to whine the hardest.

They're working overtime to destroy America.

Well, last year Jeff Bezos got $129,000,000 back from the IRS.

I owed more than ever this time

Nothing really changed between last year and this year for hubby and I .... went from owning around $200 (fed and state combined) to over $4,000 (fed and state combined) and we haven't a clue why. And we are just simple W2 and mortgage interest filing ... really nothing else.

You dumb-dumbs, you are just going to be missing that much from your next return.

I'm going to try and write my IRS tax check to Mr Trump if he wins again.

Debt is a construct meant to keep you in place and working. Who makes the money/wealth? It’s the ruling kingdom, or military. Babylon, Greece, Rome, USA. We print the worlds money. China thinks they own make believe money. The first thing you need to know, it’s fake, backed by nothing. Second, never give your neighbor money to buy a gun! You may want that fake money back, good luck collecting it.

China couldn’t scratch its ass without America telling them to do so. Your buying shit you don’t want and shit you don’t need! Do you think China doesn’t know this? It’s a global cabal, with evil global intent. China gave the US Billions to produce weapons, money they know they can never get back. But that goes back to, What is money?

This isn’t China vs America, or any other nation against any other. It’s a coordinated plan for world control! Jesus Christ is your salvation.

OP has no clue what he’s talking about.

The interest rate is a simple interest annual rate calculated daily.

It absolutely, positively is NOT compounded, and it most certainly is NOT “compounded daily”.

Simple interest and compound interest are two different animals.

The IRS has never (and will never) EVER pay you “compound interest”.

.

I owed 7 grand.....but that’s a first.

From the article

And the interest is sizeable: 5% compounded daily for Q2 and 3% compounded daily starting on July 1.

Last Edited by LunaticCC on 07/16/2020 11:26 PM

Our taxes were just filed a week ago so, yeah, we ride!

So much fail in this thread.

Why? The IRS has always sent out refunds after April 15th whether you filed early or not. They sure didn't pay interest then.

Did they just get back to work or something?

It's not going to amount to much. 2k refund that you waited 90 days on is only about $25 in interest.

I made an error so I've been waiting 5 months. Corrected it fast. Should have it now but only this week did i finally get someone on the phone, they say they’ve got stacks and stacks of mail and have to go through everything. I’m expecting it back now at the end of August. I wonder if that qualifies?

I haven’t filed yet and need to do an extension. Between state, federal and self employment taxes I owe around 325k. Insane....I’m moving to a tax haven this winter. I’m out sorry folks, not paying for these commies anymore.

cool. I waited till late late late.......... but got it done on time.