The IRS Is Sending 14 Million Americans Money
Here's the good news the I.R.S. is sending 14 million Americans a check soon. The bad news, more than likely you'll receive less than $20.
Hey, twenty bucks is better than a stick in the eye, right? Unfortunately, it's not the second stimulus check that we're all waiting for. So, why are we getting these checks from the IRS?
When the coronavirus pandemic first reared it's ugly head back in March the IRS decided to postpone the tax deadline to ease the financial strain on many Americans. Of course, not everyone had to pay when they filed their taxes, some people were receiving refunds.
Since the tax deadline was extended the people that were owed a tax refund had a delay in their payment and then money so the government was still holding on to that money. Earning interest on your money. Well, they have to pay the interest on that money to you. According to the Times Union, the average payment will be about $18.
Taxpayers who receive their refunds via direct deposit will get the interest payment deposited in the same account. Everyone else will get a check with a notation that says “INT Amount.”
Also, if you filed your taxes before April 15th, you won't get any refund check because your refund wasn't delayed.
So, there you go. It's not the thousands of dollars in a stimulus check, but at least it's something. Now, just don't go spending it all at once.