State Unemployment Wavier

Forum|Forum|5 years ago
March 22, 2021
1 reply
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I have already filed my 2020 taxes However I received unemployment from the state of South Carolina. The POTUS has waived the unemployment up to certain amount. For people who have received unemployment I contacted Turbo Tax support about the waiver And was told to file an amended return after March 25th Recently the IRS stated that it would not be necessary to file a 2020 amended return. Im not sure what to do at this point I have not received any information about how the IRS is going to handle the waiver Or what steps to take or information that I would need to send to the IRS

Daniel R. McFarland

[email address removed]

Not A Product Question

DoninGA

Level 15

The IRS has requested that you do Not file a 2020 amended tax return at this time for the exclusion.

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

For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.

bluetopaz89Author

Level 2

Thank you for the info I did forget to tell you that I did owe both federal and state taxes. Because of the unemployment MJF is my filing status with no dependents So I need to wait until I hear from either the IRS or Turbo Tax to get the information and go from there? I do know the filing date date has extended until May 17th

Thank you again

Daniel

DoninGA

Level 15

@bluetopaz89 wrote:

Thank you for the info I did forget to tell you that I did owe both federal and state taxes. Because of the unemployment MJF is my filing status with no dependents So I need to wait until I hear from either the IRS or Turbo Tax to get the information and go from there? I do know the filing date date has extended until May 17th

Thank you again

Daniel

Hopefully you will hear from the IRS before May 17.

This is a new statement just issued by the IRS on 03/23 -

If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.

https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation