How do I claim the 2020 Unemployment Tax Exemption passed in the latest COVID relief bill?

[Bsch4477]

We are all waiting for instructions from the IRS. 

[DoninGA]

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures.  And after the IRS has changed any forms or schedules to accept the tax code changes.  And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

Go to this IRS website for update information - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

[Nmreyn]

Any changes here? I'm waiting to file because my husband elected to have taxes paid on his unemployment and we'd like that back in our refund. Not filed yet but getting impatient!

[DoninGA]

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@Nmreyn wrote:

Any changes here? I'm waiting to file because my husband elected to have taxes paid on his unemployment and we'd like that back in our refund. Not filed yet but getting impatient!

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See this TurboTax support FAQ for information for the unemployment compensation exclusion - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

Also see this IRS statement - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021