The IRS said it will automatically refund money to eligible people who already filed their tax returns before the unemployment changes took effect.
In 2020, 23 million Americans filed for unemployment because of the, according to the Bureau of Labor Statistics. Below the Established under the CARES Act in March 2020, this included those who were made redundant as well as handymen, contractors and self-employed persons who would not normally qualify for unemployment insurance. Here’s what we now know about unemployment tax refunds and the details we have yet to learn.
Unemployment Tax Refund: Everything We Know Now
We still do not know details about the tax benefit for unemployment
“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. 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, all about the and what you need to know about the .