The IRS is still sending in the year 2023 taxes related to the COVID and the whole pandemic era. We can say that it has been 3 years since this pandemic and it still leaves after-effects for many of the citizens. The IRS still has work to do, so the economy of many households could see an increase in the coming months.
As many as 14 million returns have been corrected by the IRS in the past week. This means that’s a lot of tax refund stimulus checks that the IRS will have to do soon. This is all related to 2020 unemployment compensation.
The 2020 corrections resulted with 12 million refunds. This means that everyone received on average $1,232 with a total value of almost $15 billion. A very high figure considering that most of the citizens who received this money were because they had overpaid.
Who will receive one of these tax refund checks from the IRS?
Citizens who overpaid taxes in 2020 will be able to see one of these IRS tax refund stimulus checks. So check well on your tax returns and see if you have paid more tax than necessary in 2020. To do this, also check the tax table you had to pay in that year, because being a special year due to the pandemic everything was different.
Each and every citizen who made these extra tax payments will be able to claim the tax refund. But it is important to apply for this refund, otherwise we will not receive it. It is not an automated process, but we will have to claim our tax refund check ourselves.
How can I claim this tax refund?
In order to receive one of these checks from the IRS, you need to file an amended tax return. This must be done for the year 2020 and should be done as soon as possible. It is not good to wait on this type of thing, so be sure to file the new amount to receive your tax refund check as soon as possible.
If you don’t know how to file one of these amended tax returns, you can contact the IRS in the following ways:
- By phone. By calling 800-829-1040.
- By going to an IRS office. You can find the local office nearest you and go there to ask questions.
Another way to get help with the tax refund is to hire a financial advisor who knows the documents we need to provide to the IRS.