Regardless of the reason, many of Americans found themselves using federal or state-level unemployment benefits. The IRS announced you may qualify for a refund.
Again, we are not financial experts so of course consult your expert. This seems to concern those that paid taxes on unemployment benefits throughout the year. The IRS will provide more detail to know if and how you qualify.
The first 10.2k of benefits recieved in 2020 would not be taxed for married folks and individuals who made less than 150k. According to the new legislation the IRS has estimated over 16 million taxpayers who have gotten unemployment benefits and could possibly qualify.
Another batch of corrections could be sent out making the amount of those who qualify even bigger.
Most people that do qualify will not have to take any extra steps, however for more info check in with experts to know for sure.
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