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filed 2020 taxes before the tax break for Unemployment

its just sitting sitting with no update on amount or dd last movement on my tax Transcript was 7/26.21 2ith code 290 $0

 

should I just amend to be safe, don't amend or I'm not getting a refund?

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filed 2020 taxes before the tax break for Unemployment

You will get a federal income tax refund for the unemployment exclusion if all of the following are true.

 

  • You reported unemployment benefits as income on your 2020 tax return, on Schedule 1 line 7.
  • You did not get the unemployment exclusion on the 2020 tax return that you filed. The unemployment exclusion would appear as a negative amount on Schedule 1 line 8, with the abbreviation UCE on the dotted line to the left of the amount.
  • Your tax on Form 1040 line 16 is not zero.
  • Your Adjusted Gross Income (AGI), not including unemployment, is less than $150,000. In other words, Form 1040 line 11 minus Schedule 1 line 7 is less than $150,000.

 

If all four of those conditions are true, The IRS will recalculate your tax return and send you the refund. It might be a couple of months before you get it. For more information see the following IRS announcements and FAQ.


IRS to recalculate taxes on unemployment benefits; refunds to start in May


IRS begins correcting tax returns for unemployment compensation income exclusion


IRS continues unemployment compensation adjustments, prepares another 1.5 million refunds


2020 Unemployment Compensation Exclusion FAQs

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9 Replies

filed 2020 taxes before the tax break for Unemployment

Don’t amend. Eventually you will get your adjusted refund with interest. 

filed 2020 taxes before the tax break for Unemployment

You will get a federal income tax refund for the unemployment exclusion if all of the following are true.

 

  • You reported unemployment benefits as income on your 2020 tax return, on Schedule 1 line 7.
  • You did not get the unemployment exclusion on the 2020 tax return that you filed. The unemployment exclusion would appear as a negative amount on Schedule 1 line 8, with the abbreviation UCE on the dotted line to the left of the amount.
  • Your tax on Form 1040 line 16 is not zero.
  • Your Adjusted Gross Income (AGI), not including unemployment, is less than $150,000. In other words, Form 1040 line 11 minus Schedule 1 line 7 is less than $150,000.

 

If all four of those conditions are true, The IRS will recalculate your tax return and send you the refund. It might be a couple of months before you get it. For more information see the following IRS announcements and FAQ.


IRS to recalculate taxes on unemployment benefits; refunds to start in May


IRS begins correcting tax returns for unemployment compensation income exclusion


IRS continues unemployment compensation adjustments, prepares another 1.5 million refunds


2020 Unemployment Compensation Exclusion FAQs

filed 2020 taxes before the tax break for Unemployment

is there a way to calculate what I might back? the tax calculator is very confusing 

filed 2020 taxes before the tax break for Unemployment

If you PROMISE to save a PDF and a .taxfile of the original return for future use and safekeeping  then you can use the amendment process to see what the return will look like after the IRS changes it for the unemployment exclusion.   However if you then find a new credit was added that was not on the original return you will need redo the amendment and file/mail it AFTER you eventually get the corrected refund from the IRS.  Do not jump the gun.  

                                                                                                                             

filed 2020 taxes before the tax break for Unemployment

Thank you!!

filed 2020 taxes before the tax break for Unemployment

 

Has anyone received the refund after filing before the unemployment tax break went into effect? Turbotax continues to say don't amend for the refund, but it's been 10 months and no refund has been received. Thanks

 

 

filed 2020 taxes before the tax break for Unemployment

Its been 2 years and I haven't received the adjusted refund. Now what do I do?

ChondelLO
Intuit Alumni

filed 2020 taxes before the tax break for Unemployment

The IRS will be able to access your files and provide insight regarding the refund in question. For information on how to contact the IRS, please visit the help article below.

 

How do I contact the Internal Revenue Service (IRS)? - Intuit

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filed 2020 taxes before the tax break for Unemployment

The IRS recently announced that they have made all the corrections to the 2020 returns for the unemployment  situation and that if you are still due a refund you must mail in an amended return.

 

How to amend (change or correct) a return you already filed

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...

 

 

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