Question

Unemployment refund and Child Tax credit

Forum|Forum|4 years ago
August 17, 2021
1 reply
0 views

So I did not amend my taxes for the fact I should be getting a refund due to the change in tax law on the taxes paid on unemployment. I am in the married category with both of us paying tax on unemployment should I have gotten the refund by now? Secondly We opted out for the child tax credit but we received a payment. What do I have to do to not get the advance payment?

X

xmasbaby0

Employee

The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.

The IRS began to send out the additional refund checks for tax withheld from unemployment in May. The refunds are being sent out in batches—starting with the simplest returns first. If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months. TurboTax cannot track or predict when it will be sent. The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-deduction-because-of-the-unemployment-income-exclusion/01/2211778

You say that you opted out for the monthly child tax credit payments? Try going to the Manage Payments portal again.

This is a brand new system thrown together by the IRS after Congress changed tax laws in the middle of the tax season. There are going to be bugs, glitches and mistakes made and folks will unfortunately have to be patient until they sort it out.

https://www.irs.gov/credits-deductions/child-tax-credit-update-portal

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

K

kemo1aAuthor

I understand your generic answer that release said it would be paid out by June it is now August I am looking for a more updated response unless there is none.

rjs

Employee

@kemo1a wrote:

I understand your generic answer that release said it would be paid out by June it is now August I am looking for a more updated response unless there is none.

@kemo1a

The more recent IRS news releases say that they would start to send out the unemployment refunds in May, and continue through the summer. Summer ends September 22. Of course, that's just an estimate. It could end up taking longer than they expect.