IRS begins correcting tax returns for unemployment compensation income exclusion

IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through summer https://www.irs.gov/newsroom/irs-begi... https://accountinginstruction.info/ WASHINGTON — The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded from taxable income.