A calendar year taxpayer files his 2009 Federal income tax return on March 3,2010.The return reflects an overpayment of $5,200,and the taxpayer requests a refund of this amount.The refund is paid on June 18,2010.The refund must include interest.

Question

Quizplus · Accepted Answer

According to IRS guidelines, interest is paid on refunds issued after April 15th of the tax year. In this case, the taxpayer filed his return on March 3, 2010, and thus the refund issued on June 18, 2010, would include interest.

A Calendar Year Taxpayer Files His 2009 Federal Income Tax