A Sorely Needed Unexpected Check From The IRS May Be Coming Your Way
This has been difficult times for so many people here at the Jersey Shore, and if bills and money are front and center on your mind, you may actually be in for a surprise. And this would be a good surprise. You might be getting a check in your mailbox from the IRS.
According to CNBC, our friends at the IRS are in the process of sending 1.5 million refund checks out, and one of those payments may be coming your way. So, to what set of circumstances do we owe this bit of relieving, helpful good news to?
Many people got taxed last year on unemployment income before a change in the rules made a portion of those benefits tax free. So if you fall into that category, keep an eye on your mailbox or, in the case of direct deposit, your bank account for a refund.
And if you fall into this category, there's even more good news. The IRS says the average refund is over $1600, and for so many residents of the Jersey Shore, that amount of money will go a long way to putting a dent in the bills, and letting you sleep just a little bit easier.
In the spring, the American Rescue Plan said the first $10,200 of unemployment income (or $20,400 for couples) was not taxable, but if you filed your taxes before the law went into effect, you didn't get the tax advantage the new law afforded.
So if this sounds like what happened in your case, you should keep an eye out for some unexpected money, and isn't that nice for a change.