Hi!
Back in February, I filed my taxes through TurboTax (free version). I was aware that Maryland had passed the Relief Act, but was not sure when it will take effect. After filing, I do recall seeing an email about the changes and that I didn't have to do anything, since TurboTax was working on it. As of recently, the State taxes that I owed, have been deducted from my bank account. Will TurboTax amend the amount that was taken from my account? or would I have to follow a different process in order to reclaim the amount that has been taken?
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I'm not sure what specific relief you are referring to, but Maryland has recently expanded tax benefits involving the earned income credit, child tax credit and the taxation of unemployment benefits.
It is not clear yet if the adjustments will be automatically applied to tax returns filed, or if you will be required to file an amended return. So for now, you need to wait for further guidance form the Comptroller of Maryland on this.
TurboTax will notify you in the future if further action is required on your part.
It's the Maryland Relief Act 2021. It was recently passed on February 15th. From what I know that those who were on Unemployment, the first $10,200 were exempt from taxes. I filed my taxes before knowing this and I did receive an email from, Turbotax regarding the relief act. My question is, I fall under the relief act, yet the taxes that I owed already have been deducted from my checking account. Would TurboTax assist in having the amount that was taken from my account (which falls under the tax-exempt) will the be reimbursed back to me or will I have to call the comptroller?
You will need to contact Maryland. Click here: Your state TurboTax does not send you refund or keep your money. The IRS and state do.
At the federal level, if you have filed, the IRS will re-calculate your taxes and send you the refund. Click here for update: IRS update on unemployment compensation
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