IRS - See how to Check the status of your refund through an online tax account

The IRS (Internal Revenue Service) sent out 2.8 million refunds in early June and will continue to send them throughout the summer. The agency announced more refunds were coming in "mid-June," but many people haven't yet received the checks. For instance, in a popular Reddit discussion about the refund, many people report that they're eligible for an adjustment yet still haven't received a payment. See how to check the status of your refund here below.

IRS - See how to Check the status of your refund through an online tax account

Do you know the IRS - Internal Revenue Service is a U.S. government agency responsible for collection of taxes and enforcement of tax laws such as wash sale rule, etc. The IRS also handles corporate, gift, excise, and estate taxes, including mutual funds and dividends.

What relief money has already been approved for this year? 

The American Rescue Plan Act of 2021 from March contained three types of direct payments to individuals:

Stimulus checksStimulus payments of up to $1,400 have gone out to those who meet the requirements. There's also money going to certain individuals in the form of "plus-up" payments 

Child tax credit: A temporary expansion of the child tax credit for 2021 sends qualifying families up to $3,600 for each child -- you can calculate your child tax credit total here. These monthly partial payments, which will begin in July, will last through the end of the year, with a final payment in 2022. 

Federal unemployment bonus: A weekly $300 unemployment bonus was extended to Sept. 6, as Pandemic Unemployment Assistance was to gig workers and freelancers (the self-employed). However, over half of state governments have since chosen to opt out of the extended benefits before Sept. 6, so millions of jobless Americans in those states were cut off from those funds as early as June 12.

The IRS says eligible individuals should've received Form 1099-G from their state unemployment agency showing in Box 1 the total unemployment compensation paid in 2020 (if you didn't you should request one online). Some states may issue separate forms depending on the jobless benefits -- for example, if you received federal pandemic unemployment assistance, or PUA. 

One way to know if a refund has been issued is to wait for the letter that the IRS is sending taxpayers whose returns are corrected. Those letters, issued within 30 days of the adjustment, will tell you if it resulted in a refund or if it was used to offset debt. The IRS says not to call the agency. 

The IRS online tracker applications, aka the Where's My Refund tool and the Amended Return Status tool, will not likely provide information on the status of your unemployment tax refund. The only way to see if the IRS processed your refund online (and for how much) is by viewing your tax transcript. 

Here's how to check online:

1. Visit IRS.gov and log in to your account. If you haven't opened an account with the IRS, this will take some time as you'll have to take multiple steps to confirm your identity.

2. Once logged into your account, you'll see the Account Home page. Click View Tax Records.

3. On the next page, click the Get Transcript button.

4. Here you'll see a drop-down menu asking the reason you need a transcript. Select Federal Tax and leave the Customer File Number field empty. Click the Go button.

5. The following page will show your Return Transcript, Records of Account Transcript, Account Transcript and Wage & Income Transcript for the last four years. You'll want the 2020 Account Transcript

6. This will open a PDF of your transcript: Focus on the Transactions section. What you're looking for is an entry listed as Refund issued, and it should have a date in late May or June. 

If you don't have that, it likely means the IRS hasn't gotten to your return yet. 

Thank you.


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