topic Does Turbo Tax charge for amended returns? They already have all my 2020 info. in After you file

Does Turbo Tax charge for amended returns? They already have all my 2020 info.

utsnowdancer — Tue, 09 Mar 2021 01:10:46 GMT

When can I file an amended 2020 return?

Re: Does Turbo Tax charge for amended returns? They already have all my 2020 info.

SweetieJean — Tue, 09 Mar 2021 01:53:00 GMT

There is no charge to amend unless the reason you are doing so requires an upgrade. The 1040-X form will be ready at the end of March. But be aware that the IRS does catch some mistakes (such as typing in the wrong Federal tax withheld), so it may not be necessary to amend. But also note that 1040-X amended returns take several months to process.

Re: Does Turbo Tax charge for amended returns? They already have all my 2020 info.

utsnowdancer — Fri, 12 Mar 2021 01:10:42 GMT

Thanks, Jeanie, for your reply. Just so you know, I will need to file an amended return because the new COVID Relief Bill has just allowed a $10K income deduction from 2020 PUA (Pandemic Unemployment Assistance) taxes. Just hope that my resulting refund won't have to wait too long to come thru.

Re: Does Turbo Tax charge for amended returns? They already have all my 2020 info.

macuser_22 — Fri, 12 Mar 2021 01:13:14 GMT

Until the IRS writes the rules and procedures nobody knows if an amended return will be necessary or not.

The $10,200 unemployment retroactive to 2020 was just signed into law. Now the IRS is responsible for writing regulations and rules for claiming it. Once the rules are written then if new forms will be needed the IRS must develop those. Then get the form specifications to software providers to develop their software. The IRS then must conduct tests with the software providers to be sure it is all comparable.

That process can take several weeks to several months. Do not look for anything soon.

(As a reference, the COVID CARES Act was passed in March of 2020 and the IRS released the forms to report it in February 2021 - 11 months later.)