The Internal Revenue Service (IRS) is delivering checks worth $1,232 on average and taxpayers will be receiving them.
The Internal Revenue Service (IRS) is sending out checks worth $1,232 on average to millions of taxpayers. (Photo: The US Sun)
$1200 Worth Of Federal Direct Payments Being Sent Out To Millions Under $14.8Billion Pot – Are You Eligible?
A key provision under the American Rescue Act Plan, signed by President Joe Biden last March 2021, qualified taxpayers for tax-free $1,200 unemployment benefits.
The only problem is that most Americans filed their 2020 tax returns which reflected the year when the jobless rate was at a 14.7 percent high. This resulted in the IRS conducting a review of those returns. The agency is now issuing 12 million refunds, which is worth a total of $ 14.8 billion.
The Internal Revenue Service (IRS) is sending out checks worth $1,232 on average to millions of taxpayers. (Photo: The US Sun)
Who is Qualified to Receive the Money?
The adjusted gross income for individuals and married couples must be below $150,000 to be eligible for this payment. If you think you are qualified for the employment exclusion and it wasn’t corrected by the agency, you may need to file an amended 2020 tax return.
The IRS warned you not to do this if you have already received the unemployment exclusion on your taxes. It is currently taking more than 20 weeks to process the amended returns said the US Sun.
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