UCE Question

[9599]

Hello I filed my taxes 2 weeks ago. I just found out  that they changed the UCE tax. Do I have to refile or will it be done for me automatically. And if I have to refile how do I go about that?

[ErnieS0]

You do not have to refile. The IRS has said it will automatically issue refunds for taxpayers who filed before The American Rescue Plan, which was signed into law on March 11.

The new law excludes the first $10,200 of unemployment from federal income tax for taxpayers with a modified adjusted gross income (AGI) is less than $150,000. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation. If you file Form 1040-NR, you can’t exclude any unemployment compensation for your spouse.

Related Resource:

• New Exclusion of up to $10,200 of Unemployment Compensation

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[rvtbvt]

I filed and I owed the IRS, now with the UCE adjustment I am getting a refund.  I supplied them with my routing number and account number to withdraw what I originally owed them.   Will they use my account information I supplied to them to direct deposit my refund?

[JeanneLO]

They could if you have previously used that account for a U.S. Government stimulus payment or received a previous tax refund. Per the IRS: "The banking information can be either where a U.S. Government payment was sent or an account where an individual paid the U.S. Government."

@rvtbvt

[Gmanturner]

I had to open 2020 TurboTax on 7/6/2021to research an item and had to click the Update button.  I noticed that both my Federal and AZ State refunds are now higher than when I filed back on 4/23/2021.  After poking around a bit, I found that the UCE amount was changed from $10,200 to the actual amount of unemployment claimed, $16,650.  This caused an increase in my refund amounts.  What's up with that?!  Why did this change?  I think the update said that something happened in June.

[bservis]

I had the same thing happen. I did not export out a PDF of my return when I filed in March. Now when I opened TT it updated and adjusted both of my return amounts. I have not received my refunds and wanted to check them online. The AGI and return values don't match now and I can't check. How do I find out the values from when I filed in March?

Why would it change the values if I already filed?!