The IRS just announced its interest rates for 2025, and Americans can expect lower rates for overpayments and underpayments. Beginning January 1, the rates will be set at 7 percent annually ...
It's also essential to remember that, for now, the associated tax rates remain the same (currently 10%, 12%, 22%, 24%, 32%, 35%, and 37%). Also, the IRS has announced the 2025 standard deduction.
This refund applies to forms for tax years 2019 and 2020. Refunds are set to arrive by the end of September, according to the IRS. "The penalty relief issued today is yet another way the agency is ...