The refunds totaling up to $14.8 billion are a result of the 2021 American Rescue Plan Act. Hence, the act waived unemployment benefits up to $10,200 per eligible taxpayer.
The agency corrected 14 million tax returns. Though some taxpayers may not have been issued a corrected tax refund if they owed money on previous taxes or other debts,“Some taxpayers received refunds, while others had the overpayment applied to taxes due or other debts,” the IRS confirmed in a statement. “In some cases, the exclusion only resulted in a reduction in their adjusted gross income.
While the IRS started issuing corrected refunds in May 2021, some Americans had more complex taxes. Hence, these refunds were delayed including ones from married couples in 2020.
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