Level 4

Non Taxable Unemployment

Forum|Forum|5 years ago
June 2, 2021
2 replies
7 views

Does anyone know if IRS has began to distribute refunds to those who got tax on their unemployment early in the tax season?

ProSeries Tax

This topic has been closed for replies.

BobKamman

Level 15

Someone set up a Twitter account to track them.

"As of Friday, May 28, 4:14pm EST, we have confirmed that unemployment tax refunds are starting to hit credit union accounts! Let us know if you receive a deposit here, and let us know what bank."

https://twitter.com/unemploymenttax/status/1398373260153307136

Alfredo1967Author

Level 4

Thank you Bob.

sjrcpa

Level 15

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer

The more I know the more I don’t know.

sjrcpa

Level 15

From today's e-News for Tax Professionals

IRS efforts to correct unemployment compensation overpayments will help most affected taxpayers avoid filing an amended tax return. So far, the IRS has identified 13 million taxpayers that may be eligible for the adjustment. Some will receive refunds, which will be issued periodically, and some will have the overpayment applied to taxes due or other debts. For some there will be no change.

The more I know the more I don’t know.

qbteachmt

Level 15

"IRS sending more than 2.8 million refunds to those who already paid taxes on 2020 unemployment compensation"

To subscribe to or unsubscribe from another list, please go to the e-News Subscriptions page on the IRS Web site.

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