- This year, the Internal Revenue Service (IRS) has received a historic number of tax returns.
- Who will receive a check for $1,600 from the IRS?
- The agency has already reported that approximately 1.5 million taxpayers will obtain a new check for $1,600.
This year, the Internal Revenue Service (IRS) has received a historic number of tax returns, which means that millions of citizens will soon get more money; but who will receive a check for $ 1,600 from the IRS?
The agency counts, so far, more than 35 million pending tax returns that need to be processed manually, although it has already reported that approximately 1.5 million taxpayers will obtain a new check for $1,600.
Who will receive a check for $1,600 from the IRS?
It is a new refund for taxpayers in the United States for the unemployment assistance they received in 2020 and that reaches an average value of more than $ 1,600 dollars.
Last May, the agency announced that it would deliver these checks to more than 10 million taxpayers, since they had mistakenly paid the tax on unemployment benefits they received from last year.
Return money to taxpayers
This year, as part of the American Rescue Plan, Congress changed the tax laws dealing with unemployment benefits and set a limit of $ 10,200 dollars before paying any taxes related to it.
Under the new legislation, unemployment benefits that are below $ 10,200 dollars They are not taxable, so the IRS is working to retroactively return your money to those who had paid it before the new changes took effect.
Millions of refunds
This is already the fourth refund sent by the tax collection agency and for this round it indicated that 1.5 million beneficiaries would be receiving their check for an average of $ 1,686 dollars per taxpayer.
Reimbursements occur at the time that extraordinary federal unemployment benefits will end in September.
IRS prepares an additional 1.5 million checks Who will receive them?
IRS prepares an additional 1.5 million checks. The tax agency ad sending an additional 1.5 million checks to eligible families. Also, he anticipated that the aid could reach $ 1,600 dollars of the stimulus.
The US Internal Revenue Service continues to send aid from the American Rescue Plan signed by President Joe Biden in March. That plan excluded up to $ 10,200 in taxes for unemployment compensation.
IRS confirms requirement of additional checks
One of the main requirements, according to the IRS, to obtain the additional checks would be to have had a modified adjusted gross income that was less than $ 150,000 per couple. The money would come from the exclusion contemplated in Biden’s plan.
“Since May, the IRS has issued more than 8.7 million unemployment compensation refunds totaling more than $ 10 billion. The IRS will continue to review and adjust the tax returns in this category this summer, ”notes the IRS.
IRS advises when additional checks will be sent
“Direct deposit refunds will begin July 28 and paper check refunds will begin July 30. This is the fourth round of reimbursements related to the unemployment compensation exclusion provision, ”the agency said.
In addition, according to the aforementioned statement, “the IRS’s effort was focused on minimizing the burden on taxpayers so that most people do not have to take any additional steps to receive the refund.”
What must be done at the IRS to receive the additional checks?
The federal agency noted that most people eligible for aid will not have to file an amended return, as it is IRS personnel who have been reviewing and adjusting the tax returns, in order for them to obtain the aid.
“For this round, the IRS identified approximately 1.7 million taxpayers who needed to make an adjustment. Of that number, approximately 1.5 million taxpayers are expected to receive a refund. The average reimbursement is $ 1,686, ”the statement said.
Some will run out of extra checks
“For taxpayers who overpaid, the IRS will either refund the overpayment or apply it to other outstanding taxes or other federal or state debt owed,” says the IRS statement on additional upcoming checks.
The agency began to review the statements that it considered “simpler”, but now continues with those that are considered more complex. “The average refund amount is higher for this round because the IRS included an adjustment to the Advance Premium Tax Credit (APTC),” the statement said.
IRS Reveals It Will Send Very Important Letters About Additional Checks
The IRS advises that it will send letters to people who qualify for the additional checks 30 days after the adjustment is made. The letters will contain information on the type and amount of the refund, as well as the payment of any debt or compensation.
Although most do not need to take any action to obtain one of the additional checks from the IRS, others will need to file an amended return so the agency can process their refunds or extra aid. Who will receive a check for $ 1,600 from the IRS?
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