A calendar year taxpayer files his 2011 Federal income tax return on March 5, 2012.The return reflects an overpayment of $6,000, and the taxpayer requests a refund of this amount.The refund is paid on May 18, 2012.The refund need not include interest.

Question

Quizplus · Accepted Answer

The IRS only pays interest on refunds issued after April 15th of the calendar year. Since the refund in this scenario was paid before that date, interest is not required to be included.

A Calendar Year Taxpayer Files His 2011 Federal Income Tax