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?
12937
1 Best answer
fanfare
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
fanfare
Level 15
Mar 14, 2021 2:07:29 PM
your have to wait.
IRS has not yet issued guidelines for persons who already filed.
billnicky
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.