Do I need to amend my federal return for the new unemployment benefits law?

 
RayW7
Expert Alumni

After you file

The IRS has asked that taxpayers not amend for the unemployment exclusion, unless the unemployment tax break makes them newly eligible for tax benefits like the earned income tax credit.

  • If you already filed your 2020 tax return, you do not need to do anything to get these additional unemployment benefits. The IRS announced that they will automatically adjust your return and send any additional refund amount directly to you. However, some people may now be newly eligible for additional deductions and credits not already included on the original tax return. In these cases, you will likely want to amend your return to claim these additional dollars. Additional information on this is below.

-follow this link for additional information-

I need to amend my state return - TurboTax

Unemployment Stimulus: Am I Eligible for the New ...

After you file

LinaJ2020
Expert Alumni

After you file

For federal, if you have already filed, do not amend. The IRS will re-calculate your taxes and send you the refund.  To read more, click here:  No amendment

 

Per IRS, "There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return."

 

As far as your state, it depends on which state you are in.  Not every state conforms to the federal unemployment exclusion rules and guidelines.  Most of the federal and state sections in TurboTax program have been updated.  As the information under Federal section will be transferred to the State, please follow prompts in the program to amend your state return if needed.  To verify if you need to amend your state return, contact your state here:  Your state

 

@acooney2134

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