GREENSBORO, N.C. — Tax day was Monday and plenty of people already have questions about their returns.
Scott Braddock with Scott Braddock Financial and Mark Hensley with AARP NC join 2 Wants to Know to answer your questions about unemployment overpay, stimulus, and child tax credits.
I didn't get the first or second stimulus checks, and I'm eligible. What do I do?
If you missed out on stimulus payments one and two, the only way you'll get them now is if you file an amended tax return.
Stimulus check number three is still being paid out to many. You can check your status using the 'Get My Payment' tool on the IRS website.
Where is my tax refund?
Federal Returns
According to the IRS's latest stats, which compare this year to last year at the same time, total returns received are down by 1% and total returns processed are up by a smidge.
The number of refunds made to taxpayers is down about 3.2% from last year.
The first step to finding out where your refund is by checking the IRS Where’s My Refund page. If you get stalled there for some reason, you might think calling the IRS is the answer, but not many folks have had luck. What’s left? An online account.
“Another option is to create an account with the IRS. It's on their website, it's easy to do and this will show you what has been accepted, processed, you can ask for transcripts,” said JR Cecil of Liberty Tax Services.
NC TAX REFUNDS
Now, when it comes to North Carolina, the state has received about 4.4 million returns and processed about 4.3 million.
According to the NC DOR, there are about 8,600 refunds pending over 60 days due to enhanced identity theft measures. If you're one of them, it's simply a matter of time. You can call 1-877-252-4052 to check on your refund, but you probably won’t get the details of why your refund is pending.
I paid taxes on my unemployment benefits. Will I get that money back?
Yes, under the American Rescue Plan, anyone making less than $150,000 per year who claimed less than $10,200 in unemployment benefits does not have to pay taxes on those benefits.
The IRS is sending those payments out starting this month. They will come by direct deposit or by check, depending on what information the IRS has on file for you.
Do I qualify for the Child Tax Credit?
The Child Tax Credit is a monthly check for each child under age 17. Checks average between $250-300. This is an advance on the tax credit on the 2021 tax return. This is not a taxable income. You can claim the rest on your tax return. Checks will start going out July 15 through December.
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