I just noticed there was a recent amendment to make $10,200 in last year's unemployment payments would be exempt from taxes. How do I redo my taxes because I'm impacted?

mackelizgepp · ‎March 12, 2021

If this is true, then my taxable income is way less than what appears on my tax return so how can I go about this?

xmasbaby0 · ‎March 12, 2021

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

You are among millions who have now been affected by a mid-tax season change in the tax law. Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

It can take weeks to several months or more for the changes to be made to tax software. First the IRS has to change its forms. The tax software has to be changed; the IRS has to test and approve of the software. Do not expect changes in the software to happen quickly. TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

SweetieJean · ‎March 12, 2021

Please wait until the IRS issues procedures for how to handle this, as well as all the other provisions of the new tax law.

mackelizgepp · ‎March 12, 2021

What if I already paid the money I owed to the IRS?

mackelizgepp · ‎March 12, 2021

What if I already paid the money I owed to the IRS?

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I just noticed there was a recent amendment to make $10,200 in last year's unemployment payments would be exempt from taxes. How do I redo my taxes because I'm impacted?