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Lisajo1
New Member

Unemployment refund

How can I know if I will get mo ey back or if I qualified for the unemployment refund

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1 Reply
LaToyaF
Employee Tax Expert

Unemployment refund

Hi @Lisajo1 ,

 

In order to know if you are getting money back, we would need to look to see if you qualified. The American Rescue Plan approved that up to the first $10,200 worth of unemployment payment for taxpayers (20,400 for married filing jointly) is now tax-free if your annual modified adjusted gross income was less than $150,000.  

This currently only applies to the 2020 tax year. 

 

Haven't received your refund for taxes paid on your unemployment payments?

If you had filed your return before the law was enacted and meet the requirement above, the IRS will automatically send the refund.  The IRS is still in the process of making adjustments and issuing refunds. 

If you have not received your refund yet, the IRS has said that they will be sending refunds throughout the summer which doesn’t officially end until September 22nd.  

 

Additional information can be found here:

 

https://blog.turbotax.intuit.com/tax-news/am-i-eligible-for-the-new-unemployment-income-relief-49427... 

 

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

 

I hope you find this information helpful.  Did you file your return before this went into effect?  

 

 

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