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New Member
posted Apr 28, 2021 8:56:23 AM

Due to the Fed $10.2k exemption on unemployment, how can I adjust the tax payment amount on my 2020 return already filed? I don't want to overpay.

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1 Replies
Expert Alumni
Apr 29, 2021 8:48:46 PM

You can open your return and see the changes to get the corrected amount due.  Then you can pay at Payments.

 

The IRS will adjust if a credit is already on the return.

 

You can amend if the credit is not on your return and should be - after the IRS is done.

 

 

Some credits that could be added:

 

Earned Income Credit eligibility:

The greater of AGI or earned income must be less than:

  • $15,820 ($21,710 for MFJ) with no qualifying children,
  • $41,756 ($47,646 for MFJ) with one qualifying child,
  • $47,440 ($53,330 for MFJ) with two qualifying children, or•$50,954 ($56,844 for MFJ) with three or more qualifying children. 

Child Tax Credit

 

Education credit, retirement savings and more!