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Amending a return

I filed my 2020 return before the unemployment tax change. 

I went into TT to amend it and TT already fixed it. 

TT amount is more than IRS figured and I want to send in what TT corrected.

I clicked on amend a return but new return comes up.

How do I pull up the prior return I filed in March to amend it to what TT fixed ?? 

Thank you in advance for your help. 

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6 Replies

Amending a return

Do not amend.  The IRS will send you the money that you are owed.

Amending a return

 The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.   

 

 

The IRS began to send out the additional refund checks for tax withheld from unemployment in May.  The refunds are being sent out in batches—starting with the simplest returns first.   If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

 

 

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-m...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Amending a return

I did let the IRS amend it. I filed in February and waited until July and only got $28. 
Unemployment withheld $288 in taxes and I collected approximately $2880. 
I should of gotten back the entire $288

and when TT deducted the $2880 from income, I went into a lower bracket because TT shows I paid too much tax the first time. 
TT shows I’m due about $600 more, not $28.

So I figured out how to pull up my February return and amended it. I’m going to triple check the numbers TT inputted and send it off. 
Worse case scenario is the IRS will disagree and send me an explanation of how the $28 is correct.   🤷‍♀️

Amending a return

Was the $28 your original refund?  The IRS may still send you another refund when they recalculate the unemployment.  Do not amend.  

Amending a return

The IRS sent my original refund amount plus $28. 
They have done the recalculation according to their “Where’s my Refund” website. 
At first I thought it might be interest they were paying since it’s been 5 months.  But when I went on the website it said it was a final determination. 
It gave a reference code and a phone number but I haven’t gotten through anytime I have called.  So I thought I would send in what TT recalculated and see what happens. 
Maybe that will prompt them to call me. 😂

Amending a return

I did let the IRS amend it. I filed in February and waited until July and only got $28 more than my original refund.

I only collected unemployment for 3 weeks.
Unemployment withheld $288 in taxes and I collected approximately $2880. 
I should of gotten back the entire $288

and when TT deducted the $2880 from income, I went into a lower bracket because TT shows I paid too much tax the first time. 
TT shows I’m due about $600 more, not $28.

So I figured out how to pull up my February return and amended it. I’m going to triple check the numbers TT inputted and send it off. 
Worse case scenario is the IRS will disagree and send me an explanation of how the $28 is correct.   🤷‍♀️

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