The RETURN Act aims to improve IRS responses to refund claims by requiring timely notifications and explanations.

The RETURN Act amends the Internal Revenue Code to enhance the Internal Revenue Service's handling of refund claims. It mandates that the IRS review refund claims, provide detailed written explanations for disallowances, and notify taxpayers of their right to appeal. The act also sets a cap on interest increases for overpayments and adjusts the cap for inflation starting in 2027. It applies to refund claims received after the act's enactment.

The RETURN Act aims to improve IRS responses to refund claims by requiring timely notifications and explanations.

The RETURN Act amends the Internal Revenue Code to enhance the Internal Revenue Service's handling of refund claims. It mandates that the IRS review refund claims, provide detailed written explanations for disallowances, and notify taxpayers of their right to appeal. The act also sets a cap on interest increases for overpayments and adjusts the cap for inflation starting in 2027. It applies to refund claims received after the act's enactment.