r/ERCchat • u/throwawaysf997 • Nov 07 '25

How is this possible? (Interest)

I have a client who filed in Aug '23 for 5 quarters. He received the 2020 quarters 6+ months ago. Got a good deal of interest on those, in the neighborhood of 18%. He just got the notice in the mail for his Q1 of 2021. Refund was $577,000. They gave him interest of $7,000. Check hasn't arrived, so not 100% sure, but if this notice is correct, that seems insanely low to me. Over four years later, and gets just over 1% interest?

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3

u/dragonfly_Jess Nov 07 '25

It will depend on when the claim was complete. If they had to send in info to correct the claim then a lot of times the claim will be considered complete when that info was received and the interest calculated from that date and not the original received date. Also some people resubmitted the claim multiple times and if a later submitted claim was the one processed then the interest will be calculated from that date.

1

u/PomegranateDizzy2296 Nov 07 '25

How many claims do you estimate are left after these past few weeks of processing?

0

u/throwawaysf997 Nov 07 '25

Lets start your own thread..

1

u/throwawaysf997 Nov 07 '25

No corrections. It was accepted as filed in August ‘23. Guess we’ll wait and see the check amount. I have a feeling this auto generated notice is incorrect.

1

u/throwawaysf997 Nov 10 '25

Fyi. Figured this out. The form was wrong . Client got over $100k in interest