2274500
You'll need to sign in or create an account to connect with an expert.
The IRS will be adjusting tax returns with unemployment compensation entered to exclude up to $10,200 of the UC if the taxpayer is eligible for the exclusion. This process should start in May with the IRS sending refunds to taxpayers based on the excluded UC.
Go to this IRS website for information - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...
The bill makes the first $10,200 of federal unemployment income ($20,400 for married filing jointly) tax-free for households with income less than $150,000. The legislation excludes only 2020 federal unemployment benefits from taxes, not unemployment income received in 2021.
When will I get my additional unemployment refund from the IRS?
According to the IRS, they will send payments in two phases:
The good news is the the IRS has reviewed the first round of Unemployment Calculation Exclusion (UCE) for about 21,000 filers.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rehopechar
New Member
y2kconfuse
Level 1
Jm160
New Member
lwolbrueck
New Member
beverlynelsonsemail
New Member