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Level 1
posted Apr 1, 2021 1:59:03 PM

I submitted my taxes and owe money. I setup a payment plan on the IRS site. Being unemployed, with the $10,200 untaxed, what should I do?

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1 Replies
Expert Alumni
Apr 1, 2021 2:24:12 PM

If you filed your tax return before the $10,200 exclusion for unemployment income took affect, you should continue your payment plan so that it doesn't get cancelled for non-payment. Once you get your refund for the tax on your unemployment income, any overpayment on your payment plan will be refunded to you.