topic Re: Refund change after filing in After you file

Refund change after filing

kkeaton — Thu, 08 Apr 2021 20:56:56 GMT

I entered Turbo Tax after filing and the refund amount has changed. It appears that there now an amount of unemployment that is not taxable. The answer to a similar question said the IRS would automatically do the adjustment but that did not happen in my case. Do I need to file an amended return to get the balance of the refund due me?

Re: Refund change after filing

xmasbaby0 — Thu, 08 Apr 2021 20:59:03 GMT

Here is why you do NOT amend your return for unemployment:

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

Re: Refund change after filing

DoninGA — Thu, 08 Apr 2021 21:00:23 GMT

The IRS has not even started with the unemployment compensation recalculations based on the exclusion. Do not amend your tax return for the exclusion.

Go to this IRS website for information - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

Re: Refund change after filing

kkeaton — Thu, 08 Apr 2021 21:15:19 GMT

Thanks for the quick response. I already got my refund ant the lower amount. I'll wait to see if I get the balance. The time line in the article you sent was very helpful!