IRS Account Transcript Date Entries

[iAmMe]

I am among the millions of people who will have their taxes recalculated due to the unemployment tax credit since I was an early filer before the bill was signed into law. So, I was curious and looked at my IRS Account Transcript. I see some of the dates, and some are postdated. Some are postdated weeks ahead with a corrected refund amount.

Is the date for the specific line item the day they will send out the refund or the day they will process the return?

[xmasbaby0]

Do not rely on anything you are seeing on the transcript as being a date you can count on.

If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs