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Level 2
March 15, 2021
Question

Should I amend my taxes after the new unemployment tax change?

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

DoninGA
Level 15
Level 15
March 15, 2021

You will have to amend the tax return that was filed to get the unemployment compensation exclusion.  But not yet since the IRS has not provided guidance on the procedure.

 

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-

 

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

Level 2
March 15, 2021

That’s great. Thank you for the help.