The exclusion for up to $10,200 of unemployment compensation was for 2020 only. If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan Act enacted on March 11, 2021, allows you to exclude from income up to $10,200 of unemployment compensation paid in 2020. This means you don’t have to pay tax on unemployment compensation of up to $10,200 on your 2020 tax return only. If you are married, each spouse receiving unemployment compensation may exclude up to $10,200 of their unemployment compensation. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation. If you file Form 1040-NR, you can’t exclude any unemployment compensation for your spouse. If you have already filed your 2020 Form 1040 or 1040-SR, you should not file an amended return. The IRS will automatically refund money to people who already filed their tax return reporting unemployment compensation or, in some circumstances, the IRS will apply the refund money to tax debts or other debts owed by the person entitled to the refund.
If you believe that you are still entitled to a refund from 2020 that you have not yet received, you are still within the statute of limitations to receive this refund. For your specific situation, you may want to check your IRS account to see if payment was made to you https://www.irs.gov/payments/your-online-account , and if you believe the payment to you was lost you can initiate a refund trace with the IRS Refund Hotline at 1-800-829-1954 and use the automated system or speak with a representative. If you are unsure of the refund status for the excluded unemployment income, you may want to contact the IRS directly at: 1-800-829-1040.
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