MILLIONS of Americans will be asked by the IRS to pay back their stimulus checks.
There have been three rounds of the $1,400 stimulus checks sent out to Americans so far this year.
However, some Americans have now been sent letters telling them that they need to pay up as they have a balance due with the IRS.
The IRS has the power to review tax returns and correct any errors they find.
The IRS has made around nine million corrections to tax returns this year – with most of these related to people who claimed missing stimulus checks.
The corrections have resulted in the IRS sending letters out telling people they owe money, CNBC reported.
Those notices have reportedly been causing confusion for taxpayers as they include missing calculations, financial adviser Dan Herron told CNBC.
"The IRS is sending out balance due notices with no calculation or explanation analysis," he said.
He added that Americans have found it tough to contact the IRS to sort out these issues.
“They’re putting a lot of people at a disadvantage," he said.
“Especially those that can’t necessarily afford to have [a tax professional] sit on the phone for hours at a time.”
The IRS received more than 167 million phone calls during the 2021 filing period – but only 7 per cent went through to an agent, according to the Taxpayer Advocate Service.
Source: Read Full Article