Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Author: jh4986 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: I got my refund and interest too Date: 5/13/2002 8:04 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I filed a 1040X amendment for the year 2000 return and just got a check back over the weekend. I am pleasantly surprised to find out that IRS paid about 6.5% interest on the amount. Also, I asked them to deposit to my bank but the money came across as a check.

Has anyone experieced this before?
jh
Print the post Back To Top
Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 60610 of 121061
Subject: Re: I got my refund and interest too Date: 5/14/2002 3:10 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I filed a 1040X amendment for the year 2000 return and just got a check back over the weekend. I am pleasantly surprised to find out that IRS paid about 6.5% interest on the amount. Also, I asked them to deposit to my bank but the money came across as a check.

Yes and yes. Interest is paid on refunds resulting from amended returns. Direct deposit is available only on original returns.

Phil Marti

Print the post Back To Top
Author: LooseChange One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 60639 of 121061
Subject: Re: I got my refund and interest too Date: 5/15/2002 10:15 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Yes, I've had a similar experience. Another experience that you will have next year is the opportunity to pay the tax on the interest you received :-). Seems strange doesn't it??????

Regards,
LooseChange

Print the post Back To Top
Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 60644 of 121061
Subject: Re: I got my refund and interest too Date: 5/17/2002 5:07 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Wowza. Does the IRS always pay 6.5% interest?

Does that mean that if I, um, forget to include all my deductions for my initial return so I end up not getting anything back, then file a 1040X showing all the deductions, that it's like getting a 6.5% guaranteed investment?

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Advertisement