topic Hello there is a new balance for my taxe return from unemployment credit. when will the difference be deposited? in Get your taxes done using TurboTax

Hello there is a new balance for my taxe return from unemployment credit. when will the difference be deposited?

markee_t — Wed, 24 Mar 2021 11:30:32 GMT

just need jelp with the deposit date

Re: Hello there is a new balance for my taxe return from unemployment credit. when will the diffe...

HelenC12 — Wed, 24 Mar 2021 12:42:40 GMT

I can't give you a deposit date. The IRS has not yet announced when it plans on doing the unemployment compensation adjustment.

This is the information from the IRS:

The first $10,200 of unemployment payments are now tax-free for households with an annual income under $150,000.
If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.

Re: Hello there is a new balance for my taxe return from unemployment credit. when will the difference be deposited?

Opus 17 — Wed, 24 Mar 2021 12:49:33 GMT

TurboTax is software to assist you with a self-prepared tax return. TurboTax is not authorized to represent you in front of the IRS unless you used the full service option which is very expensive, so even if the IRS had a deposit date—which I very much doubt at this point since they only announced yesterday that they would be recalculating affected the tax returns—TurboTax could not get that date for you from the IRS due to taxpayer privacy laws.