WASHONGTON, DC – The IRS is issuing another round of refunds this week.
Almost 4 million taxpayers who overpaid their taxes on unemployment compensation last year will see refunds starting today via direct deposit, or by paper check starting Friday, July 16th.
The American Rescue Plan Act of 2021 excluded up to $10,200 in unemployment from taxable income calculations for individuals and married couples whose adjusted income was less than $150,000.
The IRS will send out letters about the refunds, so most eligible taxpayers don’t need to take any action.