The Internal Revenue Service started to send taxpayers their excess refunds that weren’t sent due to the misalignment of when the tax season started and when the American Rescue Plan was passed.
The plan included an unemployment compensation exclusion for up to $10,200. If you were eligible for the exclusion but filed your tax return before March 11 and got your refund early, there is a high chance that you didn’t get benefited from the exclusion. If this sounds like you, know that the IRS and the Department of Treasury started rolling out the tax refunds to taxpayers that are eligible but never claimed it on their tax returns.
When will I get my unemployment tax refund?
The Internal Revenue Service started issuing tax refunds associated with the unemployment compensation on August 18. Depending on the bank you’re working with, the money will be directly deposited into your account shortly.
What is IRS Treas 310 Tax Ref 081821 on my bank account?
If you’ve seen the IRS Treas 310 Tax Ref 081821 on your bank account transactions, it’s a good thing! The IRS and Department of Treasury are sending the unemployment compensation refunds with the IRS Treas 310 Tax Ref 081821 transaction code. Taxpayers that have seen this on their bank accounts have already received their excess refunds.
Haven’t received your unemployment compensation refund? Give it a couple of days, as it can take up to three business days for the payment to reach your account. After the initial three business days, you can give the IRS a call and ask the whereabouts of your unemployment refund.