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All or part of any interest you were charged on an erroneous refund generally, will be forgiven. Any interest charged for the period before demand for repayment was made will be forgiven unless:
- You, or a person related to you, caused the erroneous refund in any way, or
- The refund is more than $50,000
Example: if you claimed a refund of $100 on your return, but the IRS made an error and sent you $1000, you would not be charged interest for the time you held the $900 difference. You must, however, repay the $900 when the IRS asks.
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