topic Does anyone know, are we suppose to amend our taxes for the $10,200 unemployment forgiveness on taxes or are we suppose to refile our taxes and the IRS will amend them? in After you file

Does anyone know, are we suppose to amend our taxes for the $10,200 unemployment forgiveness on taxes or are we suppose to refile our taxes and the IRS will amend them?

Jwcox12345 — Thu, 18 Mar 2021 18:17:30 GMT

I have been told that how we amend our taxes to reflect the $10,200 forgiveness, is to file our taxes as if we have not filed them yet and that the IRS would amend our taxes and refund any additional money that is owed. Is this correct?

Re: Does anyone know, are we suppose to amend our taxes for the $10,200 unemployment forgiveness on taxes or are we suppose to refile our taxes and the IRS will amend them?

SweetieJean — Thu, 18 Mar 2021 18:18:20 GMT

The IRS has not yet issued guidance on this, so stay tuned.

IRS Statement - American Rescue Plan Act of 2021 | Internal Revenue Service

Re: Does anyone know, are we suppose to amend our taxes for the $10,200 unemployment forgiveness on taxes or are we suppose to refile our taxes and the IRS will amend them?

fanfare — Thu, 18 Mar 2021 19:46:34 GMT

if you need your refund now, e-File and hope the IRS will handle this and send you another refund later.

Otherwise, you may have to amend later.

That is a simple thing -- well simpler thing than before -- once e-File of 2020 1040-X is open.

It's quite possible the IRS computers will adjust right away since the law is now in effect, and that will be that.

Re: Does anyone know, are we suppose to amend our taxes for the $10,200 unemployment forgiveness on taxes or are we suppose to refile our taxes and the IRS will amend them?

Jwcox12345 — Sat, 20 Mar 2021 07:15:03 GMT

Okay, Thank you!!