Can I wait the 3 yrs to file my unemployment benefits without being penalized?

[DoninGA]

No.  You report the unemployment compensation on the tax return for the year received.

For tax year 2020 you will receive a Form 1099-G reporting the amount of unemployment compensation received by you in 2020.

Enter unemployment compensation in the Search box located in the upper right of the program screen. Click on Jump to unemployment compensation

If you had taxes withheld from the unemployment compensation -

On the screen What's the total amount you received on your 1099-G? check the box Federal or state income tax was withheld on this payment.

[xmasbaby0]

No you cannot do that.    ALL of your 2020 income goes on your 2020 tax return.   That thing about not filing for three years is if you are getting a REFUND you are not penalized --- you can still file a return for up to three years past the deadline and still get  a refund.   If you OWE tax due, your interest and penalties start to add up after April 15, 2021.

Unemployment is taxable income.  You have to enter it on your 2020 return.

UNEMPLOYMENT COMPENSATION

Unemployment compensation is taxable on your federal return. 

You will have to enter a 1099G that is issued by your state.

Some states will mail out the 1099G.  Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.

Enter your 1099G in Federal>Wages & Income>Unemployment

Go through the screens very carefully, making sure  to enter any federal/state tax you had withheld from the unemployment.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-report-a-1099-g-for-unemploymen...

STATES THAT TAX UNEMPLOYMENT BENEFITS

AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY

https://ttlc.intuit.com/community/personal-income-taxes/help/how-does-receiving-unemployment-affect-...