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dylloop
New Member

I owe taxes but they added a new UI tax break. I have already filed how do I figure out how much I now owe.

As the title says I already filed my taxes in February I owe taxes this year. I got an email from turbo tax stating they would update on any new information and now its saying that any additional refund will automatically be processed. but the email was written as if it was for those receiving a refund. so How do I go about figuring out my new bill? or do I just go on iris website and pay the original amount?

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DavidD66
Employee Tax Expert

I owe taxes but they added a new UI tax break. I have already filed how do I figure out how much I now owe.

For those taxpayers who already have filed and figured their tax based on the full amount of unemployment compensation, the IRS will determine the correct taxable amount of unemployment compensation and tax. Any resulting overpayment of tax will be either refunded or applied to other outstanding taxes owed.  You can wait for the IRS to calculate the new amount of tax owed, but that might not be until after the May 17 due date.  You could determine the new corrected amount you owe by preparing an amended return.  Do not file the amended return, just use it to determine the new amount owed. 

 

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I owe taxes but they added a new UI tax break. I have already filed how do I figure out how much I now owe.

IRS will process your return as originally filed.

You must pay the amount owed as shown on your tax return.

 

@DavidD66 

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