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Get your taxes done using TurboTax
I have filed my 2020 federal return with Turbo Tax and the amount we owe is scheduled to be taken from our account on 4/15. However, we have over 18k in unemployment income. With the new tax changes, much of that will not be taxable.
1) Will the IRS still be taking our payment even though our tax liability will change significantly? and;
2) Only one of us received unemployment benefits but we file jointly, what is our exemption amount?
March 20, 2021
2:56 PM