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Level 1
March 15, 2021
Question

Do i have to amend my return to get the 10,200 undmployement reimbursment

  • March 15, 2021
  • 2 replies
  • 20 views
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2 replies

Level 15
March 15, 2021

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859

 

 

 

You are among millions who have now been affected by a mid-tax season change in the tax law.  Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

  If you have not e-filed yet—-wait.   And if you already e-filed and want to amend for this—WAIT.

 

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15
March 15, 2021

Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment. . If you've already filed, see How do I get the new unemployment benefits if I’ve already filed my taxes? to sign up for updates. 

 

As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for households with annual incomes less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020. 

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