![]() Lisa Patterson, a spokeswoman for H&R Block, said Tuesday the company is awaiting additional guidance from the IRS on how the. The 10,200 tax break is the amount of income exclusion for single filers, not the amount of the refund. This is the third round of refunds the agency is issuing, after issuing similar payments in May and June. TurboTax processed nearly 40 million tax returns last year. The IRS estimated as many as 13 million people may qualify for a payment. ![]() The refunds are for taxpayers who collected unemployment last year and who filed their 2020 returns before mid-March, when President Joe Biden's American Rescue Plan decreed that up to $10,200 in jobless benefits would not be taxable.īecause unemployment assistance is subject to federal income tax in most years, the tax law change meant that millions of people are due a refund. On September 22, TurboTax advised me to go ahead and file an amended return. I followed the IRS’ advice to wait until the end of the summer to file an amended tax return. The Internal Revenue Service announced Tuesday it will send 4 million tax refunds the week of July 14, with direct deposits landing in people's accounts that day and the agency mailing paper checks on Friday. Since May, the IRS has been sending tax refunds to Americans who filed their 2020 return and reported unemployment compensation before tax law changes were made by the American Rescue Plan. I, as well as many of you, filed my 2020 tax return before the unemployment tax refund was signed into law. ![]() is delivering another batch of tax refunds to Americans who received unemployment insurance benefits last year and may have overpaid taxes on them. IRS is holding on to millions of Americans' tax returns, delaying refunds 07:11 ![]()
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