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What if I already filed my taxes before the new unemployment rules came out? Meaning now they are saying first $10200 is not taxable.

 
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What if I already filed my taxes before the new unemployment rules came out? Meaning now they are saying first $10200 is not taxable.

If you have filed early before the exclusion, the IRS will recalculate your return for the new 10,200 unemployment exemption for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.

 

Just keep waiting.  The IRS is sending them out in batches over the summer.

See IRS article May 14, 2021

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

And see,

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa...

 

Do you need to amend your state return?

https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

What if I already filed my taxes before the new unemployment rules came out? Meaning now they are saying first $10200 is not taxable.

There is nothing you need to do for the unemployment compensation exclusion.  The IRS is calculating tax refunds for those who are eligible for the exclusion.  The IRS has started to issued tax refunds for the exclusion starting in May and will continue throughout the summer months.

Go to these IRS websites for information - 

 

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

111284
New Member

What if I already filed my taxes before the new unemployment rules came out? Meaning now they are saying first $10200 is not taxable.

Form FTB 3514 how to exclude the $10200

What if I already filed my taxes before the new unemployment rules came out? Meaning now they are saying first $10200 is not taxable.

@111284 For a CA return?   CA did not ever tax your unemployment to begin with.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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