unemployment tax refund update
COVID Tax Tip 2021-87 June 17 2021 The IRS is reviewing tax returns filed before the American Rescue Plan of 2021 became law in March to determine the correct taxable amount of unemployment compensation and tax. IR-2021-159 July 28 2021 The Internal Revenue Service reported today that another 15 million taxpayers will receive refunds averaging more than 1600 as it continues to adjust unemployment compensation from previously filed income tax returns.
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Update to April 1 2021 Notice Regarding the Treatment of Unemployment Compensation for Tax Year 2020.
. This Notice addresses the unemployment compensation exclusion also unemployment exclusion in the federal American Rescue Plan Act and its effect on the taxable income of Michigan resident taxpayers under the Michigan. Tax season officially started on January 24 with the deadline to file your taxes being set at April 18 and filers may be wondering whether the US government will provide those wh. For eligible taxpayers this could result in a refund a reduced balance due or no change to tax.
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