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The IRS was supposed to adjust my return on unemployment reported. However, the refund received is the same as calculated. Any ideas on why there is no difference?
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The IRS was supposed to adjust my return on unemployment reported. However, the refund received is the same as calculated. Any ideas on why there is no difference?
The IRS began to send out the additional refund checks for tax withheld from unemployment in May. 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.
Please read this very recent news from the IRS:
https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs
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The IRS was supposed to adjust my return on unemployment reported. However, the refund received is the same as calculated. Any ideas on why there is no difference?
They seem to be sending out the original refunds first and the additional amounts later ... I think there was too much flack about them holding up the entire refund due to processing delays. All you can do is be patient until they recalculate your return and send any extra refund if you qualify for more ... of course not everyone with unemployment or withholding from unemployment on the return are due a larger refund. If you already got all of the withholding back in the original refund there is nothing more to be sent. Review your original return to see if that is applicable to your situation.
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