Are Irs Form 13844 Bankruptcy 2025

New for you this morning, if you are patiently waiting for your tax refund from the IRS, you might be getting more than you expect. It all depends on how long you've been waiting and the size of your tax refund. Jerry Carnes is here to break it down for us. Good morning, fair. When we're late paying the IRS what we owe them, they charge us interest. So when they're late paying us what we're owed, there's interest tacked onto our check. Any extra cash is great, but don't plan on a big spending spree. As the wait for his refund check turned from days into months, then into a year, Alan Lowe thought the IRS had forgotten him. After a while, you get to the point going, "Well, maybe I won't get it at all." I mean, that was sort of where my mind went. After filing in March of last year, his check didn't arrive until March of this year. But there is a reward for those who wait. The IRS has 45 days to process returns and issue refunds. The agency is required to add interest to any payments issued after that deadline. The interest rate this tax season is 4 percent. During the pandemic, the IRS has struggled to issue checks on time, meaning a lot of late refunds. Backlog is real, and that's why we're seeing taxpayers receive interest that is not normal for other years. Interest is added quarterly, so with an average refund of $2,800, the IRS will add $112 in interest after three months, $362 if the wait for your refund lasts a full year. But financial expert Andrew Poulos reminds us the IRS sees that extra money as income, they're going to tax it, no different than if you earn...