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IRS can automatically refund taxes on unemployment benefits. Everything to know



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Unemployed workers could get more money from the IRS.

Sarah Tew / CNET

A $ 10,200 tax exemption was added to the details of the American rescue plan for those who received unemployment benefits in 2020. Also included additional weeks with a $ 300 bonus, a third stimulus check and a increase in the child discountThere is some confusion as to how the tax break might work, but the IRS says it will handle the exemption and send refunds if needed.

The agency made an update to the unemployment benefit tax exemption in the latest incentive law of March 31 and said it will recalculate taxes for people who received unemployment benefits in 2020 and all have filed their tax returns

Twenty-three million Americans filed for unemployment last year because of the corona pandemic, according to the Bureau of Labor Statistics. Below the Pandemic unemployment assistance This was created in March under the CARES Act and included both laid-off workers and handymen, contractors and self-employed persons who normally do not qualify for unemployment insurance.

Here’s everything you need to know so far


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“This new clarification from the IRS is good news for the millions of taxpayers affected, but it can still be confusing,” said Mark Steber, Jackson Hewitt’s chief tax information officer. Some taxpayers may have questions about the timing of a payment and whether it will come in a check or other form. The IRS is still clarifying these and other questions related to the newly announced program. Once taxpayers have their automatic payments made In the coming weeks and months, it may be a good idea to check with a trusted tax authority to make sure the IRS has calculated their amount correctly. ”

For more details, here are seven ways to get more money back on your 2020 tax return, all about the child discount up to $ 3,600 per child and what you need to know about the new tax deadline of May 17


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