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Deductions & credits
The Online TurboTax has been updated to reflect the federal tax forgiveness for the first $10,200 of unemployment. The desktop software update is in progress and will be ready soon.
We have still not learned how the IRS will be handling the situation where a person filed their taxes and paid federal tax on their first $10,200 in unemployment, but now do not owe that amount. They have advised not to amend.
Here is information about the tax changes with a link to be notified when the information is available.
March 22, 2021
4:07 PM