The IRS announced that people who are eligible for the unemployment tax deduction and have already filed their 2020 taxes do not need to file an amended return.
The IRS will recalculate their taxes, adjust their account accordingly, and send any refund amount directly to them.
This IRS FAQ states:
If you have already filed your 2020 Form 1040 or 1040-SR, you should not file an amended return at this time. The IRS will issue additional guidance as soon as possible.
To qualify for child related credits, a dependent must meet the requirements of a qualifying child.
The tests for a qualifying child are:
- Relationship: Must be your child, adopted child, foster child, brother or sister, or a descendant of one of these (grand or nephew).
- Residence: Must have the same residence for more than half the year.
- Age: Must be under age 19 or under 24 and a full-time student for at least 5 months. They can be any age if they are totally and permanently disabled.
- Support: Must not have provided more than half of their own support during the year.
- Joint Support: The child cannot file a joint return for the year.
It is unclear to me whether you qualify for child related credits and whether you will need to amend a tax return to claim these credits. If you qualify for these credits, do not amend until after you have received the unemployment income refund from the IRS.
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