Now that Unemployement money is not taxed, does this mean that the taxes that were retained by DEO for around 500 could be claimed back?

[vsintsvcs]

I already filed the 2020 return and paid due taxes

[xmasbaby0]

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.

  If you have not e-filed yet—-wait.   And if you already e-filed and want to amend for this—WAIT.

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

[DawnC]

Yes, but you will need to wait until the program has been updated.   Use this link to sign up to receive notifications about this change.  

[vsintsvcs]

thanks a lot

[jcolonna60]

Does anyone know if Turbotax has been updated for the unemployment tax change?

[DoninGA]

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@jcolonna60 wrote:

Does anyone know if Turbotax has been updated for the unemployment tax change?

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All TurboTax editions, online and desktop, were updated with the unemployment compensation exclusion on 03/26.

[jgbfresh]

do we have to amend our turbo tax if it was file in Feb?

[xmasbaby0]

Do not amend for unemployment.   The IRS has stated very specifically that they do not want amended returns for the change in the law for taxing unemployment.   If you had tax withheld from unemployment and already filed your return, wait for the IRS to issue a second refund to you.   There is not a timetable for it yet, but they will sort it out and refund you   without you sending in an amended return.

[jgbfresh]

Got it. So according to Irs and turbo tax am getting a bigger refund after the unemployment changes. But they are sending me a check. Is there a way to change to direct deposit without amend the tax return? I have direct deposit going into 2 different accounts for my refund. But the difference after the unemployment changes says is coming in the mail in the form of check. Can I change it to direct deposit without amend the tax returns?

[MaryM428]

Even if you amended your return, the IRS will not change the way that they are issuing your return.  You could talk to the IRS and see if they can change the payment from mailed check to one of your accounts.  Here is the quickest way to get to talk to a person:

Call them at 1-800-829-1040.  They are open Mon - Fri from 7:00 AM - 7:00 PM.  The best time to reach them is 8:00 AM.

Get to a live person fastest: Press 1 for English, then press 2 for Personal Income Taxes, and then push 1, then 3, then 2, then 0# when it asks for your social security number, then 2.

:Putting 0# for the social security confuses their phone system and it sends you to the top of the list for a person to talk to you. Since your bank accounts are on file, it might be possible for them to make the change for you.

@jgbfresh