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Walter, obviously having not read Phil's reply to this post, wrote:

There is no interest paid on refunds.

That's true in the ordinary course of events when a refund is made promptly. There are times, however, when the feds are late processing the refund. Federal law generally provides for interest on your refund if it is not paid within 45 days of the date you filed your return or claimed the refund. As Phil pointed out, the interest rate used varies.

For verification, just read IRS Publication 1, "Your Rights as a Taxpayer," available for download at

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