IRS to send another 4 million tax refunds to people who overpaid on unemployment
CBSN
The U.S. is delivering another batch of tax refunds to Americans who received unemployment insurance benefits last year and may have overpaid taxes on them. The Internal Revenue Service announced Tuesday it will send 4 million tax refunds the week of July 14, with direct deposits landing in people's accounts that day and the agency mailing paper checks on Friday.
The refunds are for taxpayers who collected unemployment last year and who filed their 2020 returns before mid-March, when President Joe Biden's American Rescue Plan decreed that up to $10,200 in jobless benefits would not be taxable. Because unemployment assistance is subject to federal income tax in most years, the tax law change meant that millions of people are due a refund. The IRS estimated as many as 13 million people may qualify for a payment. This is the third round of refunds the agency is issuing, after issuing similar payments in May and June.Authorities made two gruesome discoveries Tuesday after a Missouri woman walked into a police station and told officers that she fatally shot one of her children and drowned the other, officials said. Jefferson County Sheriff Dave Marshak said at a news conference that authorities believe both children were killed Tuesday morning.
Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving more than one million businesses and homes without power as much of the U.S. recovered from severe weather, including tornadoes, that killed at least 24 people in seven states during the Memorial Day holiday weekend.