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WDBJ7+: Understanding new IRS payments

Austin Kembel of Kembel Tax Service joins the WDBJ7+ Digital News Desk to answer questions...
Austin Kembel of Kembel Tax Service joins the WDBJ7+ Digital News Desk to answer questions about the unemployment compensation overpayments and the Advanced Child Tax Credit.(WDBJ7)
Published: Jul. 14, 2021 at 5:23 PM EDT
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ROANOKE, Va. (WDBJ) - The IRS has begun making payments to nearly four million Americans this week.

In a recent statement, the IRS said it would begin issuing another round of refunds to people who overpaid their taxes on unemployment compensation last year, following the exclusion initiated from the American Rescue Plan Act of 2021.

Austin Kembel of Kembel Tax Service joined us on the WDBJ7+ Digital News Desk to talk about what to expend in your bank account.

He also explained how the Advanced Child Tax Credits will work for taxpayers who haven’t opted out of the payment.

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