ToddL99
Expert Alumni

After you file

As of today, unemployment is still subject to federal income tax - that could change later today or very soon thereafter.

 

There is a bill pending in Congress (and likely to pass) that will exempt up to $10,200 of unemployment from 2020 taxes for those with adjusted gross incomes less than $150,000.

 

When it passes (as expected), the IRS will issue guidance on how early filers can take advantage of the change in 2020 tax law.

 

If you are required to amend your return, see How do I amend my 2020 return? for instructions.