Question

In: Finance

Find an article in the news about any tax issue that interests you. Write three to...

Find an article in the news about any tax issue that interests you. Write three to four paragraphs summarizing the article; add a paragraph telling what you learned from using our online library.

provide the article

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Expert Solution

HEADLINE- IRS to distribute tax refund interest checks to taxpayers who filed 2019 returns on time

SUMMARY

Americans who filed their 2019 federal income tax returns on time should expect a refund this week.

The Internal Revenue Service and the Treasury Department will send interest payments with an average of $18 to about 13.9 million taxpayers, according to a statement by the IRS.

The interest payments will be deposited to taxpayers who filed their tax return by this year's July 15 deadline and either received a refund in the past three months or will receive a refund.

source-usatoday.com/story/money/2020/08/19/filed-your-tax-return-irs-distribute-tax-refund-interest-checks/3398937001/

Most interest payments will be issued separately from tax refunds, according to the statement

More than 12 million taxpayers who received their refund by direct deposit will see their interest payment direct deposited in the same account.

CONCLUSION-

This is a very good measure in this pandemic environment where the IRS serves two purpose one that they are helping people in this COVID environment and other they are encouraging honest people who pay tax on time.


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