Here's Why IRS Is Sending Money To 13.9 Million Americans

Americans who filed their 2019 tax returns on time but still haven't received their refunds will be getting interest payments from the IRS, which attributes delays in payments to complications caused by COVID-19.

Christina Coulter

08/30/2020 11:30 a.m.

The deadline to file tax returns on time was July 15, which was postponed by three months from the original deadline on April 15 due to COVID-19.

Payments will be $18 on average, according to a press release from the agency.

Taxpayers whose refunds are typically received via direct deposit -- 12 million of the total 13.9 million set to receive payouts -- will also have this payment sent to their bank account directly.

These interest payments will be taxable, and must be reported on tax return forms for 2020. in January 2021, those who receive over $10 in interest payments will fill out Form 1099-INT, which will be sent to their address directly by the service.

The IRS is required by law to pay interest on disaster-related payout delays.

You can check the status of your tax refund here.

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