IRS Will Soon Issue Refunds for Tax-Free Unemployment Benefits
Unemployment benefits caused a great deal of confusion this tax season. Fortunately, the unemployment tax nightmare that left many with reduced refunds or an unexpected tax bill is coming to an end.
The IRS announced that it will start issuing refunds in May to eligible taxpayers who paid more unemployment taxes than required for benefits received in 2020. But if you're still a bit muddled about how unemployment compensation affects your tax return, we've put together the latest updates to ensure you're on the right track.
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Source Fool.com