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The IRS is sending out checks & making deposits. Will you get the money?

The checks and direct deposits are going out to 13.9 million people. This is not a second stimulus payment, it's an interest payment on your tax refund.

GREENSBORO, N.C. — Folks are getting a surprise when they go to the mailbox, a check from the IRS.

Darlene messaged me, “Got my 2nd stimulus check. It is $5.18. Could that be right”?

First, a second stimulus check still hasn't been agreed to much less voted on. So, that's out.

The IRS payment you’re getting is an interest payment from your tax return. Really.

13.9 million taxpayers are getting interest payments. The majority, about 12 million, will get the money by direct deposit. The rest will get a check that says "INT amount" in the notation.

You qualify for an interest payment if:

You received or will receive a tax refund  
You filed between April 15, 2020 - July 15, 2020

During a disaster-related postponement, the IRS is required by law to pay interest on refunds. The average interest payment is about $18.

Oh, and by the way, if your interest payment is over $10 you'll get a Form 1099 next year because it's taxable income.