GREENSBORO, N.C. — The countdown is now in the single digits. Tax Day is May 17, 2021.
The IRS is strongly advising taxpayers to file electronically with direct deposit. If you file by paper and request a paper check, you could be waiting for months.
Don't miss this, because this could make your refund bigger if you have health insurance through the ACA Marketplace. The IRS is suspending the requirement to repay any excess tax credit.
“If folks underestimated their income and they were normally supposed to pay some of that premium back, it's a one-time thing, if you were normally supposed to pay some of that back, the IRS is waiving that,” said Charles Gaba from ACA Signups.net.
The IRS is also waiving up to $10,200 in unemployment benefits. The income is non-taxable on your 2020 federal return.
If you already filed your taxes and you counted all the unemployment income, chances are you're going to get money back from the IRS.
Those payback checks start going out this month.
Now, in NC, you have to add back in those benefits as income. The state did not waive it for the state return.
CHECKING YOUR REFUND
The first place to start is with the IRS Where's My Refund page. You find it on the main page, look under the refunds tab. You'll put in your information and it takes you to the Refund Status Results. You can see by the color bars at the top where your return is either Received, Approved, or Sent.
And there could be dates there as well.