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Do i need to amend 2020 fed return due to non taxing of first 10,200 of unemployment wages?

 
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Do i need to amend 2020 fed return due to non taxing of first 10,200 of unemployment wages?

If you filed before the $10,200 unemployment exclusion, the IRS will recalculate your return for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.


See this new IRS announcement May 14, 2021
https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...


You may need to amend your state return
https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

 

Do i need to amend 2020 fed return due to non taxing of first 10,200 of unemployment wages?

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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