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brianp40972
New Member

Should I be concerned that I have seen or heard nothing of a refund of taxes paid on 2020 UI income before the Biden administration's new law passed in March?

I've heard nothing about this after being told that we need to do nothing, that the IRS will process refunds automatically. Are there steps that I should be taking to find out about this?
3 Replies
DoninGA
Level 15

Should I be concerned that I have seen or heard nothing of a refund of taxes paid on 2020 UI income before the Biden administration's new law passed in March?

You just need to be patient as there is nothing you need to do since the IRS is the only one that controls when the refund is disbursed.

 

The IRS is calculating the tax refunds for the unemployment compensation exclusion for those that are eligible.  The IRS started sending refunds in May and will continue the refunds in batches throughout the next several months.

 

Go to these IRS websites for information -

 

https://www.irs.gov/newsroom/irs-readies-nearly-4-million-refunds-for-unemployment-compensation-over...

 

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

 

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

VolvoGirl
Level 15

Should I be concerned that I have seen or heard nothing of a refund of taxes paid on 2020 UI income before the Biden administration's new law passed in March?

Mike9241
Level 15

Should I be concerned that I have seen or heard nothing of a refund of taxes paid on 2020 UI income before the Biden administration's new law passed in March?

don't be concerned. the UC refunds are taking 6 months sometimes more. some taxpayers who filed in mid-February have not yet received theirs.  It may take the IRS all summer to issue all refunds. maybe longer if the pandemic flares up again.

 

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