Three reasons why your tax refund may not make it to your bank account
The IRS may decide to take your tax refunds to pay off debts.
Posted at 4:00 AM, Mar 16, 2021
and last updated 2021-03-19 14:11:57-04
With the Coronavirus pandemic stretching into a second year, more people are counting on their tax refunds to pay down debts than ever before.
What some people may not realize is there are instances where the IRS will choose to pay off debt for you.
Kimberly Palmer, a personal finance expert with NerdWallet, says in the past there have been three main reasons: