IRS to recalculate taxes on unemployment benefits

From the National Society of Accountants (NSA) — The IRS has announced that it will automatically refund money to taxpayers who reported unemployment compensation in their tax return before the recent changes made by the American Rescue Plan Act signed on March 11, 2021. The American Rescue Plan Act allows taxpayers earning less than $150,000 in modified adjusted gross … Continue reading IRS to recalculate taxes on unemployment benefits