A calendar year taxpayer files his 2010 Federal income tax return on March 3,2011.The return reflects an overpayment of $6,000,and the taxpayer requests a refund of this amount.The refund is paid on May 18,2011.The refund must include interest.

Question

Quizplus · Accepted Answer

The IRS generally pays interest on refunds if they are issued more than 45 days after the return is filed or due, whichever is later. Since the refund was issued within this period, no interest is required.

A Calendar Year Taxpayer Files His 2010 Federal Income Tax