Page 8 - Treasury Offset Program News Today

Monthly payments of the child tax credit in 2021 were protected from garnishment. But the federal government can seize borrowers’ refund this tax season.

Column: Victims who lost money to scammers by sending it through MoneyGram have an opportunity to recoup some of their losses through a settlement.

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Former members of Donald Trump's administration were assured that payroll levies would be forgiven — but are now being told to pay up within 30 days

They've been ordered to immediately repay months of payroll taxes that had been deferred under a bid by Trump to boost the economy ahead of last year’s elections.

By Irina Ivanova Millions of tax refunds delayed Americans who overpaid taxes on unemployment benefits this year will start to receive refunds this week, the Internal Revenue Service announced Friday. Under the American Rescue Plan, workers who received $10,200 or less in unemployment benefits last year dont have to pay taxes on that money, as they normally would. However, Congress passed the law change in March, after millions of people had already filed their tax returns. ...

Some Taxpayers Won’t Get Unemployment Tax Refunds Due To Debt Collection By Dawn Geske on May 19 2021 4:23 AM Tax refunds are not "free money," but rather money that should have belonged to the taxpayer in the first place. The IRS has begun doling out refunds to those people that paid taxes on their 2020 unemployment benefits, which now under the American Rescue Plan excludes that compensation as taxable income. But for some taxpayers, those refunds will be...

Unemployment Refunds Coming, But Not For Some People With Debt 05/18/21 AT 2:23 PM The IRS has begun doling out refunds to those people that paid taxes on their 2020 unemployment benefits, which now under the American Rescue Plan excludes that compensation as taxable income. But for some taxpayers, those refunds will be smaller than anticipated--if they receive a refund at all. According to the IRS, over 10 million taxpayers who filed tax returns prior to when the 2021 American Rescue Plan was...

(Garnishment is a court order that allows for funds to be removed from someones account.) "This is no different than any other kind of government refund," said Janet Holtzblatt, a senior fellow at the Urban-Brookings Tax Policy Center. Unemployment tax break The American Rescue Plan waived federal tax on up to $10,200 of unemployment benefits, per person, collected in 2020. Many taxpayers had filed their tax returns before this break became available. President Joe Biden signed the relief bill...

IRS starts sending refunds to those who overpaid taxes on unemployment benefits By Irina Ivanova Millions of tax refunds delayed Americans who overpaid taxes on unemployment benefits this year will start to receive refunds this week, the Internal Revenue Service announced Friday. Under the American Rescue Plan, workers who received $10,200 or less in unemployment benefits last year dont have to pay taxes on that money, as they normally would. However, Congress passed the law...