Tax Resolution Attorney John P. Willis Writes About How Much Interest The IRS Is Paying On Delayed Refunds For Individual And Corporate Tax Filers.
Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR tells readers that they may wish they hadn’t received their IRS tax refund yet since the IRS has upped the interest rate they are paying on delayed refunds.
Fairhope, AL, May 16 2022: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “You Might Wish You Hadn’t Received Your Tax Refund Yet.” Mr. Willis suggests that this year it might be worth it to have the IRS be late sending refunds.
Willis states, “As taxpayers, we know that if we owe the IRS money and don’t pay on time, we’re going to be charged interest. Well,” he continues, “let’s turn the tables. Wouldn’t it be nice if the IRS had to pay you interest if they don’t get your tax return to you on time?” Willis goes on to explain, “Even though most taxpayers don’t realize it, the IRS does have to pay interest if they don’t get your refund to you within 45 days of processing your return. Interest begins to accrue from that 45-day mark forward.”
Willis points out, “In 2021, the IRS paid out $3.3 billion in interest to tax filers.” He adds, “This year they are so far behind that they are raising the interest rates it pays to individual tax filers who are still waiting on their refunds from 3% to 4%. That’s way more than you get in any bank these days! For corporate filers waiting on large refunds, the interest rate is up to 1.5% from 0.5%. That’s huge!”
The entire blog can be read at: LINK HERE
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 23 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://irsallstar.com or call toll-free 877-254-4254.