IRS says it sent 12 million refunds averaging $1,232 a pop
CBSN
The IRS said it recently finished correcting tax returns filed for 2020 that included overpayments for unemployment benefits that workers received that year. The tax agency said it has issued 12 million tax refunds as a result.
The average tax refund is $1,232, with the agency sending a total of $14.8 billion back to taxpayers, the IRS said on Friday. Taxpayers were sent letters from the IRS to inform them about the fixes to their 2020 tax filings, it added.
The tax review came about due to the American Rescue Plan Act of 2021, which was signed into law by President Joe Biden in March 2021. The legislation excluded up to $10,200 in 2020 unemployment aid from being counted as taxable income, but some taxpayers had already filed their returns in early 2021 before the law became effective.
