topic Re: Retract the rejected return in After you file

Retract the rejected return

10Kosmo — Wed, 10 Mar 2021 19:58:28 GMT

Can I retract my rejected e-filed return? How soon and when Turbo Tax will issue the new update incorporating the new stimulus. I want to hold off to incorporate the latest stimulus that provides $10,200 tax exempt in unemployment benefits.

Re: Retract the rejected return

MinhT1 — Wed, 10 Mar 2021 20:10:17 GMT

If your e-filed return is rejected by the IRS, it is not filed at all. You do not need to retract it.

The new proposed bill is expected to exempt from taxation up to $10,200 of unemployment benefits received in 2020.

However, the bill is not enacted into law yet. Please be patient. When it becomes law, the IRS will provide guidance on what taxpayers need to do. And TurboTax will always timely assist their customers.

Re: Retract the rejected return

SweetieJean — Wed, 10 Mar 2021 20:14:58 GMT

A rejected return never makes it into the ITS pipeline, so there's nothing to retract. As for the unemployment comp tax benefit, first Congress has to enact the bill. Then the President has to sign it. Then the IRS has to develop and communicate procedures. Then TT has to program and test these, and get the IRS to approve them.

We don't know how long all this will take yet. There is talk of extending the April 15 filing deadline, but so far it is just talk.

Re: Retract the rejected return

10Kosmo — Fri, 12 Mar 2021 14:24:33 GMT

The stimulus bill was signed into law yesterday Thursday 3/11. I look forward to prioritized TT update so I can incorporate relevant changes to my return and receive quicker $1400 direct deposit and larger refund as well.

Thank you

Re: Retract the rejected return

DoninGA — Fri, 12 Mar 2021 14:25:16 GMT

@10Kosmo wrote:

The stimulus bill was signed into law yesterday Thursday 3/11. I look forward to prioritized TT update so I can incorporate relevant changes to my return and receive quicker $1400 direct deposit and larger refund as well.

Thank you

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures. And after the IRS has changed any forms or schedules to accept the tax code changes. And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

This can take anywhere from several weeks to several months before it becomes available.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859