Keep an Eye Out for an IRS Refund if There Was an Error on Your 2020 Taxes

The IRS admitted that there were errors on over 12 million Americans’ tax returns for 2020 and that it will be issuing refunds of around $1200 for eligible individuals.


The American Rescue Act was the cause of the errors. In March 2021, when the bill was signed into law, it ended up leaving out around $10,000 in unemployment compensation “from taxable income calculations.”

The IRS has allegedly corrected around 14 million returns, translating to about $14 billion in refunds for Americans. The error mostly affected single and married taxpayers whose modified adjusted gross income was below $150,000 in 2020.

Am I Eligible?

Individuals who are eligible for the refund would have received a letter in the mail regarding the error and corrections. The IRS recommends that you hold onto the letter for your tax records. If you did not receive a letter but you believe you are eligible for the refund, you can file an amended 2020 tax return.

You can also visit the IRS website to see if you qualify.

Now Hiring

The House voted yesterday to repeal the bill that would give the funding necessary to provide 87,000 more agents to the IRS. Twitter users have been posting about their opinions ever since the results were announced.


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