If you see "IRS TREAS 310" on your bank statement, it could be your income tax refund.
At the beginning of the month, the IRS announced it had 8.5 million unprocessed individual returns, including 2020 returns with errors and amended returns that require corrections or special handling. And refunds that usually take around 21 days to process are taking at least 120 days. Refund checks were expected to come this summer, but it's nearly fall and the IRS hasn't given an update to let taxpayers know when the money is coming.
To add to that, the IRS has also been busy with stimulus checks, child tax credit payments and refunds for tax overpayment on unemployment benefits. The "plus-up" stimulus adjustments and the third advance monthly check of the child tax credit payment that went out today -- could give families some financial relief, but an overdue tax refund ...
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