The Internal Revenue Service reported today that another 1.5 million taxpayers will receive refunds averaging more than [post_excerpt],600 as it continues to adjust unemployment compensation from previously filed income tax returns. The American Rescue Plan Act of 2021, which became law in March, excluded up to ,200 in 2020 unemployment compensation from taxable income calculations. The exclusion applied to individuals and married couples whose modified adjusted gross income was less than 0,000. Refunds by direct deposit will begin July 28 and refunds by paper check will begin July 30. This is the fourth round of refunds related to the unemployment...

For the written story, read here >> https://www.signalsaz.com/articles/irs-continues-unemployment-compensation-adjustments-prepares-another-1-5-million-refunds/

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