Because I was unable to amend my taxes, the IRS has now taken out the taxes I owe WITHOUT the unemployment exemption & WITH an under payment penalty. So now I am paying 4 times what I owe a month before the taxes are due.
I know the US government's 'help' was the source of this problem but TurboTax just blew it. Instead of recognizing that my payment was scheduled in advance, TurboTax assumed if my taxes were filed, they were also paid. So, when I attempted to amend my taxes so I would pay the correct amount on the now current due date of May 17, TurboTax was attempting to file for a refund of taxes I had not paid.
I was able to partially undo the amendment and could see what I actually owed. However, I now have MI state taxes which still indicate that they are amended even though I have followed the advice provided to undo the amendment. So, I cannot file my MI state taxes electronically because they would include a blank amendment form.
So because of TurboTax, instead of paying what I owe in May, I have now significantly overpaid in advance. I am now hoping for the IRS to correctly calculate my new tax amount with the unemployment exception applied AND underpayment penalty removed. Then receive my 'refund' of overpayment in a month.
This is exactly what I was hoping to avoid because:
I do not like paying my taxes in advance
I do not like paying more than I owe
I do not trust the IRS to correctly calculate my new tax because I have read that the IRS will not calculate
other tax breaks resulting from the effect of the unemployment exemption.
I have to wait for the IRS to send me a refund.
I cannot file my MI state taxes
