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You mentioned "the CARES Act," but are you referring to the American Rescue Plan Act of 2021 (ARPA) and the "up to" $10,200 unemployment income exclusion, for which the IRS is adjusting returns filed prior to the new law?
More than 2.8 million refunds due to the unemployment income exclusion have been sent and many more to follow. The IRS is processing the refunds due to the unemployment income exclusion on the simplest returns first.
See this latest IRS press release from June 4:
"The IRS plans to issue the next set of refunds in mid-June. The review of returns and processing corrections will continue during the summer as the IRS continues to review the simplest returns and then turns to more complex returns."
"Taxpayers will receive letters from the IRS, generally within 30 days of the adjustment, informing them of what kind of adjustment was made (such as refund, payment of IRS debt payment or payment offset for other authorized debts) and the amount of the adjustment."
Yes, thank you so much for letting me know about the mistake in my question. I wondered if that was correct after I posted it. Should've double checked my info.
I had already read all of the stuff from the IRS, I was just hoping to get an idea of where they were in processing the refunds.
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