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ilymimii
New Member

If I received my tax return before the 2021 unemployment tax credit do I need to amend my return or will the IRS know automatically?

 
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3 Replies

If I received my tax return before the 2021 unemployment tax credit do I need to amend my return or will the IRS know automatically?

The $10,200 unemployment retroactive to 2020 was signed into law.

If you already filed - do not amend. See this:
https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

"If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you."

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Mjanise
Returning Member

If I received my tax return before the 2021 unemployment tax credit do I need to amend my return or will the IRS know automatically?

All I made last year was my unemployment and I didn't get but right at $10,000 dial rescue saying I owe $241 Texas what do I do I mean am I going to get the all credit for unemployment do I still owe that amount or what I can't find nobody to talk to here

AmyC
Employee Tax Expert

If I received my tax return before the 2021 unemployment tax credit do I need to amend my return or will the IRS know automatically?

The IRS will automatically adjust returns with unemployment.

If you asked the IRS to debit your account, they will.

If you chose to mail in your payment:

  • you can mail it and let the IRS send a refund or
  • if you believe your refund will cover the liability, then don't send the payment.

If your tax return contains unemployment and a credit, the IRS will adjust both. See IRS to recalculate taxes on unemployment benefits; refunds to start in May  If your return has unemployment but you now qualify for an additional credit, then you should amend your return.

 

Here are some credits for which you may now qualify:

 In addition, you may need to amend your state return. See Do I need to amend my state return to update my unemployment?

 

 

You will need to clarity what you are trying to say. 

  • On the federal, if your only income was $10,000 then you would not have any tax.
  • Texas does not have state tax, what are you asking?

@Mjanise

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