How is Turbotax dealing with this tax break in the stimulus package for early filers? https://finance.yahoo.com/news/claim-10-200-unemployment-tax-xxxxxxxxx.html

[SoCal-Guy-in-CA]

Will Turbotax send out an email and offer a way for early filers to amend their return for this tax break?

[DoninGA]

The software is scheduled to be updated on 03/19 to include the unemployment compensation exclusion.

See this TurboTax support FAQ for information for the unemployment compensation exclusion - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

Also see this IRS statement - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

[SoCal-Guy-in-CA]

I'm reading that the refund amounts shown in Turbotax for some have just been adjusted for the new $10,200 tax exclusion. My return was accepted (by State and Fed) on March 7, 2021 yet I still don't see an adjusted refund amount when I log into Turbotax (?)

[CatinaT1 · Accepted solution]

Since you have already filed, you will not see this adjustment.  The IRS will process the tax benefits for this exclusion and start mailing additional refunds in May.