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IRS is now returning $ 10,200 to millions who paid unemployment taxes. Do you get the tax benefit?



The IRS will automatically get back thousands of dollars paid for unemployment checks in 2020. Here's What You Need to Know

The IRS is now paying back thousands of dollars to those who have paid taxes on unemployment benefits.

Sarah Tew / CNET

If you paid tax this year on unemployment benefits that you received in 2020, you may have a refund. The IRS now gives money back to nearly 10 million people who filed their taxes before $ 10,200 tax break that is included in the US Rescue Plan Act became law. Under the new rules, unemployment benefits during the pandemic are not considered income, so you cannot be taxed on the money you received in 2020.

The IRS began sending the first of the tax breaks refund to those who qualify last week. The agency said it will continue to repay the money throughout the summer it processes tax returns and reviews taxes paid on unemployment benefits. The March incentive law also extends the weekly $ 300 Bonus Unemployment Benefits, authorizes one third stimulus check (and “plus-up” payments) and increases the child discount to as much as $ 3,600 per child.

Last year, 23 million Americans filed for unemployment, according to the Bureau of Labor Statistics. below Pandemic unemployment assistanceThis included layoffs, handy workers, contractors, and the self-employed who would not normally qualify for unemployment insurance. We will explain the unemployment tax refund and the details we are still waiting to learn. This is when you can expect to receive your first payment of the child discount and how much you can get when payments begin in July. This story was recently updated with new information.

IRS Tax Refund for Unemployment: 6 Important Things to Know Now

With unemployment refunds going up to $ 10,200 to taxpayers who paid taxes when they filed, here’s what to expect.






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Information about unemployment tax refunds that we are still waiting for

There is one more thing we don’t know about refunds. We contacted the IRS for clarification:

  • How to contact the IRS if there is an issue with your tax break refund. (Here’s what we know about contacting the IRS stimulus check problems.)

“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 officer. Steber suggested contacting a tax expert after receiving your automatic refund to make sure the IRS sent the correct amount.

For more details, all about it here child discount up to $ 3,600 per child and who qualifies for the child discount.






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