Federal

johncher623 · ‎September 9, 2021

I owed $2700. 2020 taxes before the $10,200 on federal. Then it changed to owing $81. I collected UC until September 4th withholding taxes as I did last year. Do you think I will owe this much again for 2021? Nothing changed from 2020 on my end.

LaToyaF · ‎September 9, 2021

Hi @johncher623 ,

I am happy to hear that you were able to take advantage of the $10,200 exclusion for 2020 tax year.

I understand that not much have changed in your situation and you're wanting to know if you will owe the same for 2021.

It is very possible that you may more or less or none at all depending on what the tax laws will be for 2021. At this time the IRS have not stated official plans to include another exclusion on unemployment payments. I would suggest keeping a look out on IRS news for any updates below:

https://www.irs.gov/newsroom/news-releases-for-current-month

We have a tool called TaxCaster that helps you estimate your taxes/ refund. This tool will eventually be updated to reflect the 2021 tax year. You can find this tool under Tax Tools:

https://turbotax.intuit.com/tax-tools/

I hope this information will be helpful for you!

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