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IRS 2020 tax refund: Unemployment compensation still going out

IRS 2020 tax refund: Unemployment compensation still going out

A total of 11.7 million refunds for $14.4 billion has been issued, the agency said.

The IRS plans to send out another batch before the end of the year. Taxpayers who are due a refund typically will get a letter from the IRS within 30 days of the adjustment, the agency said, and if the money would come in the form of a refund or would be applied to any outstanding IRS debt.

The agency said it is looking to correct Earned Income Tax Credit, Additional Child Tax Credit, American Opportunity Credit, Premium Tax Credit and Recovery Rebate Credit amounts that may have been affected by the unemployment exclusion.

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