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Level 2
posted Mar 14, 2021 1:53:27 PM

How does the tax exemption for the first $10,200 of unemployment benefits as specified in the American Rescue Plan affect tax returns already filed and accepted for 2020?

Using TurboTax Online, I filed federal and state tax returns and both returns were accepted prior to the American Rescue Plan being signed into law. What do I do next to take advantage of the unemployment benefits tax exemption provision?

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1 Best answer
Level 15
Mar 14, 2021 2:07:29 PM

your have to wait.

IRS has not yet issued guidelines for persons who already filed.

2 Replies
Level 15
Mar 14, 2021 2:07:29 PM

your have to wait.

IRS has not yet issued guidelines for persons who already filed.

Level 2
Mar 14, 2021 3:26:54 PM

Thank you for responding. Words alluding to the same general effect also appear on IRS.gov. WAIT is the watchword for the moment.