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Level 2
posted Apr 7, 2021 6:29:44 PM

Amended Return Required?

I had occasion to review my TurboTax filing several weeks after I received my $22 refund. TurboTax now says I'm due a $1264 federal return. Is this for real?  Do I need to file an amended 2020 return?

 

Thanks for the help.

 

0 2 713
2 Best answers
Level 15
Apr 7, 2021 6:37:37 PM

if you reported unemployment compensation then under the ARP act passed into law in 2021 for 2020 some may be nontaxable. The IRS has said it will fix such returns and make refunds as needed. it also stated not to file amended returns. when will you get the added refund if this is your situation?  some time in May at the earliest. 

Level 1
Apr 7, 2021 6:46:56 PM

Do we need to amend state tax for the unemployment compensation? Thanks!

2 Replies
Level 15
Apr 7, 2021 6:37:37 PM

if you reported unemployment compensation then under the ARP act passed into law in 2021 for 2020 some may be nontaxable. The IRS has said it will fix such returns and make refunds as needed. it also stated not to file amended returns. when will you get the added refund if this is your situation?  some time in May at the earliest. 

Level 1
Apr 7, 2021 6:46:56 PM

Do we need to amend state tax for the unemployment compensation? Thanks!