The IRS paid $3 billion in interest to taxpayers

Source: Michelle Singletary, Washington Post (Paid Registration)

The IRS penalizes taxpayers who don’t pay their tax bills on time, but the agency’s own delays are costing taxpayers billions of dollars as well.

The IRS paid $3.03 billion in interest on delayed refunds to taxpayers for fiscal 2020 because it didn’t get the payments to them in time, according to a report released by the Government Accountability Office this week. That’s almost a 50 percent increase compared with the $2.06 billion paid in interest on refunds in fiscal 2019.

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