I filed before the american rescue plan went into effect. Turbotax modified my original tax return and it shows I'm owed a bigger refund, but the IRS has not sent me the extra money. do i need to ammend?
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" the IRS has not sent me the extra money"
the IRS plan is to send out the money in batches over the summer.
It might take even longer.
The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.
The IRS began to send out the additional refund checks for tax withheld from unemployment in May. The refunds are being sent out in batches—starting with the simplest returns first. If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months. TurboTax cannot track or predict when it will be sent. The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.
Please read this very recent news from the IRS:
https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs
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