Unemployment Update

Good news for everyone who collected unemployment and filed their taxes early, before the American Rescue Plan was signed into law, and paid tax on their unemployment earnings. The IRS has announced that they will start making changes to the returns filed early and issuing refunds to taxpayers who paid tax on their unemployment earnings starting in May and continuing into the summer.

For more information visit the IRS website.

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