IRS tax refunds are delayed this year – frustrating taxpayers who are waiting for $10,200 payments
AMERICANS are waiting for thousands of dollars in tax refunds from the IRS, and some are saying the relief couldn't come soon enough.
Approximately 10million taxpayers may get a $10,200 payout if they filed their tax returns before the tax break in the American Rescue Plan became law.
"I still have not heard of anyone who has received a refund from the unemployment benefits tax change," financial advisor George Papadopoulos said.
The $10,200 exemption applied to individual taxpayers who earned less than $150,000 in modified adjusted gross income.
Married couples filing jointly could exclude up to $20,400 of unemployment benefits from their earnings.
The IRS said it would start issuing refunds to people with the least complex tax returns, such as those who didn't claim children.