Is Turbo Tax updated to the new Covid relief bill signed into law? More specifically, regarding the first $10,200 of unemployment received not being federally taxed.

[xmasbaby0]

Is TT updated for a bill that was signed less than 24 hours ago?

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

You are among millions who have now been affected by a mid-tax season change in the tax law.  Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

It can take weeks to several months or more for the changes to be made to tax software.   First the IRS has to change its forms.   The tax software has to be changed; the IRS has to test and approve of the software.   Do not expect changes in the software to happen quickly.   TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.

[mattenon]

IRS website says to wait before filing taxes. Will the deadline to file be extended?

[mattenon]

IRS website says to wait before filing taxes. Will the deadline to file be extended?

[gloriah5200]

TurboTax has not received any notification of the federal filing deadline being extended.

We will have to wait and see what IRS decides to do on that decision.

We are still waiting on guidance from IRS on how to handle some of the new changes in the law just passed.

If you haven’t filed your 2020 taxes yet and would like to receive progress status updates on the unemployment changes, please sign up here.