Excluding the unemployment benefits from taxable income will lower your tax bill on your tax return. If you are getting a refund, the refund will be increased. If you owed taxes, the amount you owed will be reduced. This only affects your 2020 tax return.
Your withholding numbers are now for tax year 2021 and are not affected by this provision.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
