The Internal Revenue Service is updating its Frequently Asked Questions to reflect changes on two fronts important to a lot of taxpayers.…

Read more about FAQs Updated on Unemployment Compensation, Recovery Rebate Credit

The American Rescue Plan, or ARP, excluded up to $10,200 in unemployment compensation from each taxpayer’s taxable income. But some people filed their returns and paid taxes on the full amount of their unemployment benefits before the ARP became law, so the IRS is working to send those taxpayers a refund.…

Read more about Refunds Could Be Issued for Overpayment of Tax on Unemployment