Unimployment

[Kevfroo]

I've already filed my taxes for 2020 and paid taxes on my unimployment money but now I hear a part of it is now tax free. Do I need to file an amended return to get that money back?

[MinhT1]

The IRS says in this document:

If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.

[Kevfroo]

That was just the information I needed to know. Thang you very much.

[danakredfield]

Thanks for this answer....i filed on March 2,,,10 days before the "Unimployment change" came into affect.....i am wondering how long the IRS will take to refund us our money !  there has to be millions of people that filed, that are now owed money.....thank you !

[CatinaT1]

This article will tell you how the IRS is handling the refunding of Unemployment  tax.

[danakredfield]

thank you  !!  sounds good starting May for the IRS corrections to previously filed Federal Taxes...