TT updates and Returns

I filed my tax returns around the first of march. After doing the final review TT said I owed $686.

I just now signed on to TT and installed the updates. It now says I should get a refund of $1588. Does anyone know why the difference? I didn't change any data that I input. A $2100 difference is pretty large......

266

Expert Alumni

Apr 14, 2021 3:41:42 PM

The government may have made a correction to your tax return, resulting in a higher! than anticipated refund. You'll get an official explanatory letter when this happens.

Level 1

Apr 14, 2021 7:41:03 PM

I found the real answer......the updated TT included a recently passed $10200 exclusion for Unemployment Compensation (UCE) on Schedule 1 line 8. Six weeks ago this was not law. Supposedly the IRS will be refunding beginning in May and continuing throughout the summer

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TT updates and Returns