Waiting for some money? Yea, me too. Well, you might want to check if you are one of the 430,00 Americans getting a hunk of cashback.
There will be a new round of tax refunds this year for Americans who overpaid on their taxes earlier this year. According to the IRS, approximately 430,000 taxpayers will receive a check for $1,189. So far, the IRS has identified over 16 million taxpayers who may be eligible for the adjustment. That’s pretty good but I doubt I am on the list.
The American Rescue Plan, which passed in March 2021, states that the first $10,200 in unemployment payments in 2020 will not be subject to taxation for those who received unemployment benefits last year.
The savings were only available to individuals and couples with modified gross incomes below $150,000. The IRS also expects to send out more refunds by the end of the year. For more information on this tax refund, you can visit the IRS page here.
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