You do not have to refile. The IRS has said it will automatically issue refunds for taxpayers who filed before The American Rescue Plan, which was signed into law on March 11.
The new law excludes the first $10,200 of unemployment from federal income tax for taxpayers with a modified adjusted gross income (AGI) is less than $150,000. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation. If you file Form 1040-NR, you can’t exclude any unemployment compensation for your spouse.
Related Resource:
- New Exclusion of up to $10,200 of Unemployment Compensation
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
