Unemployment Exclusion

Forum|Forum|5 years ago
April 13, 2021
1 reply
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I filed a 2020 Federal Tax Return on March 1, 2021, before the the software was updated to include the unemployment exclusion. The refund on the original return was $117, which has already been dispersed. Now the update has been applied and the original return has been changed in the system and the refund due is now $817. However I cannot file an amended return because Turbo Tax changed the original return after it had been filed. The state return has not been filed so I can just correct it and file it. But I need to correct the federal return first and I'm not sure how to do that. Please respond.

Best answer by LenaH

Per the IRS, you should not amend your return for an adjustment for unemployment. An adjustment will be calculated and your refund will be issued to you automatically. The IRS will start to send out additional refunds in May and continue throughout the summer. There is no further action for you to take at this time.

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

LenaH

Answer

Community Manager

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

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Tom1936

Level 2

I efiled my return in February but have not yet paid the taxes due. The federal difference is over $2000. Is there any way I can pay the new due amount before May 17th?