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I haven't received the $10,200 tax break yet for unemployment. Should I file an amended return?

 
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I haven't received the $10,200 tax break yet for unemployment. Should I file an amended return?

 

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.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

 

 

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-...

 

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

 

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

**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.**

I haven't received the $10,200 tax break yet for unemployment. Should I file an amended return?

No, you do not need to file an amended tax return for the unemployment compensation exclusion.  

 

The IRS is calculating the tax refunds for the millions of taxpayers who filed a tax return with unemployment compensation and before the exclusion was available in the tax preparation software.  The IRS has started issue tax refunds based on the exclusion for those that are eligible.  This process will continue throughout the summer.

 

Go to this IRS website for information - https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

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