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Summer is almost over in the United States and the Internal Revenue Service (IRS) has not updated information about the number of refunds submitted under the $ 10,200 exemption in paying unemployment taxes.
The agency reported that the release of payments under the “American rescue plan” approved last March in the United States Congress would be carried out in two phases and would extend until the end of summer with the most complex tax returns.
Summer is supposed to end on September 22nd on the calendar.
The latest release available on IRS.gov is from July 28, indicating that 1.5 million taxpayers would receive the refunds while the entity continues to review tax returns to make adjustments for unemployment compensation.
The press entry also highlights that, since May, the IRS has disbursed more than 8.7 million payments under this concept for a total of $ 10,000 million.
“The IRS review means that most taxpayers affected by this change will not have to file an amended return because IRS employees have reviewed and adjusted their tax returns for them. For taxpayers who overpaid, the IRS will reimburse the overpayment, apply it to other pending taxes or other federal or state debts, “the office said.
However, to this date, there are taxpayers who have not received the refund that corresponds to them for having overpaid taxes corresponding to the unemployment funds that were sent to you in 2020.
A CNET report this week indicates that some people eligible for the funds do not know if they have to file an amended return to the IRS to expedite the arrival of the refund.
A report from the same media in August indicates that users on social networks shared through a forum on igotmyrefund.com that an update in their tax transcript warned them that the arrival of the refund is pending for the end of August and September. But nothing else has been known of the process or the extent to which the IRS has met the estimated delivery date.
The third federal stimulus bill excluded up to $ 10,200 from taxable income for 2020 unemployment compensation. The exclusion applies to individuals and married persons whose modified adjusted gross income was $ 150,000 or less.
The average amount you are sending is $ 1,600.
Potential recipients of the tax exemption should be aware that if they have debts with the IRS or other entities, the refund could be seized to fulfill that obligation.
It may interest you:
IRS: 7 Important Facts About Sending Unemployment Tax Refunds
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.