topic Do i need to refile to update my tax due on umemployment benefits? in After you file

Do i need to refile to update my tax due on umemployment benefits?

taxtyme125 — Thu, 11 Mar 2021 18:48:26 GMT

Are umemployment benefits taxable for 2020?

Re: Do i need to refile to update my tax due on umemployment benefits?

ErnieS0 — Thu, 11 Mar 2021 19:45:51 GMT

Yes. Unemployment benefits, Pandemic Unemployment Assistance and Federal Pandemic Unemployment Compensation are all taxable on your federal return. They may also be taxable for state.

Wait until you receive your refund and then file an amended income tax return. The IRS gets a copy of your unemployment 1099-G so if you do not amend, you will receive a tax notice with additional penalty and interest.

Related Resources:

How to amend (change or correct) a return you already filed

Re: Do i need to refile to update my tax due on umemployment benefits?

Mike9241 — Thu, 11 Mar 2021 20:17:21 GMT

wait for the IRS to issue guidance on this issue.