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Will I get any extra money in my refund because of the tax break on unemployment I already received my Taxes
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After you file
Here is why you do NOT amend your return for unemployment:
Please read this very recent news from the IRS:
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After you file
Yes. Per the IRS, an adjustment will be calculated and your refund will be issued to you automatically, if you qualify.
If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. 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.
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