Are IRS Unemployment Tax Refund Checks Arriving In October?
Wouldn’t it be great to wake up to a check from the government on a cool and mild morning?
A number of taxpayers are enjoying an enviable situation this week, with Reddit users, Twitter users, and others expressing their happiness over an upcoming direct deposit from the Internal Revenue Service (IRS).
In 2020, the IRS may have excluded up to $10,200 from taxable calculations in connection with the unemployment compensation adjustments. As of today, 8.7 million Americans have already received refunds as a result of those changes, though the IRS ceased providing updates on the refunds as of the end of July.
Originally, the check distribution was to last until summer, but after the summer passed, some people who expected a refund were left wondering what happened to them.
The IRS has not communicated with taxpayers directly, but a blog post published in September by the National Taxpayer Advocate disclosed that an estimated 436,000 tax returns were still under review and that they were being examined by the IRS to determine if adjustments were warranted.
There are no indications whether the refund checks that were reported this week are part of that backlog or a completely different batch altogether. Despite reaching out for comment, an IRS spokesperson did not provide more details to shed more light on the matter.
While others still keep their hopes high to receive their checks soon, those of you who won this week can enjoy the cash. The money is yours!