If I have filed my taxes and did not subtract the $10,500 break from unemployment, will the IRS correct it for me?

[Critter-3]

YES ... you don't need to do anything.  They are making those corrections this month or next. 

[xmasbaby0]

You were not supposed to "subtract" the unemployment.   The software would have calculated the amount of your unemployment that is taxable automatically.   Or if you filed before the tax law went into effect, the IRS will adjust your refund.

[malkip0823]

thank you! I filed and did NOT subtract and it is showing I

owe, but I know once I put that deduction they will actually owe me... When I log onto look, no adjustments have been made yet, so I thought I should inquire before I end up really owing all that money!

[ToddL99]

The IRS is not going to start automatically updating returns for the unemployment exemption until later this month, at the earliest. 

If the correction turns your tax "bill" into a tax "refund", there won't be any penalties or interest. 

If the correction isn't enough to turn your tax "bill" into a tax "refund", you may be subject to penalties and interest on what wasn't paid by May 17. It is way too soon to see if the IRS decides to do this.

See IRS to recalculate taxes on unemployment benefits; refunds to start in May for additional information.

@malkip0823