Good news, in limbo refund now received

[PATAX]

The return that I previously mentioned in prior post efiled and accepted on March 24th after the unemployment exclusion was corrected in the software, and was in limbo at IRS apparently because of this unemployment exclusion, has now received their refund with interest... So maybe these returns that were efiled after the unemployment exclusion was updated in software, towards the end of March, that for some reason were in limbo will now finally be processed as well as the other in limbo returns...

[IRonMaN · Accepted solution]

One return down, now only 9,999,999 to go!

[qbteachmt]

This came by email through the e-newsletter subscription service:

https://www.irs.gov/newsroom/irs-readies-nearly-4-million-refunds-for-unemployment-compensation-over...

This is a perfect example of why I encourage everyone to sign up for this info directly.

[BobKamman]

@IRonMaN   Well, to be precise, only 16,399,999 more returns to go.  From yesterday's IRS update:

" As of July 9, 2021, we had 16.4 million unprocessed individual returns."

https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue

[IRonMaN]

I believe I have said this before - I'm not very good with numbers 😢

[qbteachmt]

"I'm not very good with numbers"

That's alright; the IRS's got this. Here's their "bureau-splain:"

"For this round, the IRS identified approximately 4.6 million taxpayers who may be due an adjustment. Of that number, approximately 4 million taxpayers are expected to receive a refund. The refund average is $1,265, which means some will receive more and some will receive less."

I sure am glad they explained that last part. I'm sure some would have been confused if their check wasn't exactly $1,265.

[PATAX]

Thanks for that article link QB...The returns mentioned in that article were filed before the unemployment exclusion became law and the IRS and Intuit updated their software.... the return that I mentioned was filed after the change... Apparently there was a glitch for a short time ... A colleague who uses Drake software also had several returns like the one I mentoned....