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Level 1
posted Jul 16, 2021 7:39:39 PM

Im a head of household filer who gets Eic&child credit.waiting for unemployment adjustment.Considering all that could change my refund totals, should I file an amendment?

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1 Replies
Level 15
Jul 16, 2021 8:39:00 PM

If you were already receiving EIC and/or the child tax credit on your original tax return you do not need to amend.   The IRS will re-calculate your refund if you filed before Congress changed the tax law for unemployment.

 

 The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.   

 

 

The IRS began to send out the additional refund checks for tax withheld from unemployment in May.  The refunds are being sent out in batches—starting with the simplest returns first.   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-already-filed-my-taxes/00/2081053

 

 

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-may

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-deduction-because-of-the-unemployment-income-exclusion/01/2211778

 

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

 

 

 

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

 

https://www.kiplinger.com/taxes/602542/irs-sending-more-unemployment-tax-refund-checks-in-june?rid=EML-today&rmrecid=1883531033&utm_campaign=20210611-today&utm_medium=email&utm_source=today

 

 

 

https://www.cnet.com/personal-finance/taxes/more-unemployment-tax-refunds-are-arriving-but-when-heres-what-we-know/