Tax refund for unemployment benefits: When the IRS will send your money and how to check
Are you expecting to get a $10,200 tax break on 2020 unemployment benefits? We'll explain eligibility, payment schedule and one way to check refund status online. The IRS has been sending federal refunds to people who collected unemployment insurance during the pandemic, with 2.8 million issued so far. This is because the American Rescue Plan added that the first $10,200 of unemployment benefits ($20,400 for married couples filing jointly) received in 2020 isn't considered taxable income.
Original Article Source Credits: cnet, https://www.cnet.com
Article Written By: Oscar Gonzalez
Original Article Posted on: June 16, 2021