Millions Of Americans Getting Money From IRS But Not Through Stimulus Checks

The Internal Revenue Service is expected to send 13.9 million Americans interest payments if they filed their 2019 income tax returns but did not receive their refunds.

The amount isn't substantial, as the IRS said that average payments are about $18.

Filers who receive their refund by direct deposit will also receive the interest payment in the same account. Individuals who do not have their direct deposit information on file will receive a paper check in the mail, which will be notated “INT Amount.”

These interest payments are taxable if individuals receive at least $10. In January 2021, the IRS will send out 1099-INT forms to those who received larger payments.

The IRS currently has a backlog of tax returns to process due to the ongoing COVID-19 pandemic. This year’s tax deadline was pushed back from April 15 to July 15 in order to give people more time to file.

Americans waiting on another stimulus check will have to remain patient. Although both Republicans and Democrats agree on another round of direct payments, stimulus negotiations collapsed in early August after both sides failed to reach an agreement on a new COVID-19 relief package.

On Wednesday, White House Chief Of Staff Mark Meadows told Politico that he is not optimistic about reaching a stimulus deal before the end of September.