We paid IRS $948 on 03/13/21, based on Turbo Tax calculations. In first week of April, we received a CORRECTED 1099G from Arizona Dept. of Economic Security showing a higher Unemployment Compensation amount. Opened Turbo Tax file to file an amended Federal return. Total amount due to IRS has changed from $948 (02/15/21) to $278 (04/10/21). Is amended return still necessary? Why didn't Turbo Tax email us us re the change in amount due?
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It looks like TurboTax updated to reflect the $10,200 exclusion, which decreased the amount due. You were not notified because the IRS said they would automatically make the corrections. However, if your 1099-G is more than what you entered, the amount may change again if you enter the correct amount. At this point, you would not need to amend (because the IRS will make the adjustment even with the corrected W2) and refund any overpayment due.
Thank you very much for the prompt reply. The information provided corroborated what I had already been told by a service rep. on the phone. All very clear and helpful.
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