If you received unemployment benefits last year, you could receive a hefty refund from the IRS, starting this month.
Many people anticipated the new guidelines that granted credit to those who received unemployment payments, and they were asked to be patient to get their money back, but the wait is over.
The pandemic caused millions of Californians to lose their jobs in 2020, requesting unemployment insurance payments, and many of them paid their taxes in early 2021 before it was announced in March that they would be forgiven $ 10,200. from income.
The good news is that they have finished reviewing the returns, so this week, they began to send the refunds.
And don’t worry, if you haven’t received that $ 10,200 yet, you don’t have to do anything to get it, the IRS will either deposit you directly or send you a check, depending on how you normally receive your refunds.
Of course, beware, if by reducing the $ 10,200 of your income, they go down enough to make you a creditor of other credits, you could have to make an amendment to obtain them, but the IRS itself will notify you if it is your case.
Another piece of good news is that the IRS will also begin sending automatic payments to families who qualify for credits for their children, which are usually:
$ 2,000 per dependent under the age of 17, but this year, they are higher and will be paid in advance.
Congress increased this benefit to $ 3,000 for dependents ages 6 to 17, and $ 3,600 for those under 6 years of age.
So soon enough, qualifying families will have more money available to meet their current needs, rather than waiting for reimbursement next year.
The IRS reported that they are about to have a tool available on their website for people to update their preferences on how they want to receive their credit and refund payments.
Nine states in the United States decided to end unemployment benefits. Texas joined this list and decides to stop giving checks to those who lost their jobs due to the pandemic.
All states that have decided to end unemployment benefits have Republican governors. These governors have argued that they made their decision because the unemployment check does not motivate people to look for work.
Greg Abbott, the Governor of Texas, is no exception. The governor also justifies his decision by saying that, according to the Texas Workforce Commission, about 18% of applications for unemployment benefits are fraud. Greg also invited Texans to seek employment. He said that the jobs available right now are well paying. Meanwhile, several companies across the United States have increased their wages to find more workers. Among them are Walmart and Amazon.
