Yes, your tax due amount will be decreased but please wait to file your tax return. We're waiting for guidance from the IRS on how you can claim these additional benefits soon. The American Rescue Plan exempts the first $10,200 of unemployment payments for households with an annual income under $150,000.

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tsuji-m

Level 2

Question

Can I decrease my tax due since IRS won't take taxes from some unemployment benefit?

Forum|Forum|5 years ago
March 12, 2021
1 reply
1 view

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TurboTax Deluxe Online

HelenC12

Level 15

Yes, your tax due amount will be decreased but please wait to file your tax return. We're waiting for guidance from the IRS on how you can claim these additional benefits soon.