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Unemployment Tax Refund

Is the unemployment tax refund being paid back on taxes that were taken from federal, state, or both? I only had state taxes with held but I'm not sure if I have to amend anything later on. 

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Unemployment Tax Refund

If you filed before the tax law  change… the IRS will recalculate your return for the new unemployment exemption for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.

 

They are starting to go out. See this new IRS article May 14, 2021
https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

And this one from 6/4/21

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa... 


You may need to amend your state return,
https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

 

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1 Reply

Unemployment Tax Refund

If you filed before the tax law  change… the IRS will recalculate your return for the new unemployment exemption for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.

 

They are starting to go out. See this new IRS article May 14, 2021
https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

And this one from 6/4/21

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa... 


You may need to amend your state return,
https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

 

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