Hi lramjleon! Yes, the IRS will adjust your 2020 return and refund any overpayment as a result of the Unemployment Exclusion. Additionally, if the IRS determines that your income is under the threshold for the third round Economic Income payment (as a result of the exclusion) the IRS will also issue the payment for the third round payment. There is a question on the IRS Economic Impact Payment FAQs that addresses this concern. I'm including the link Economic Impact Payment FAQs, Unemployment Exclusion
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