Will I get the taxes back I paid while receiving pandemic relief?
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Hi John,
Thanks for your question! If you filed your 2020 tax return before early March which is when the federal government legislated that $10,200 of unemployment was excludable from taxable income, you would be eligible for any income tax paid on the $10,200 of unemployment that was taxed on your original return.
Does that answer your question? Please let me know if it doesn't and I'll be happy to assist you until we're on the same page.
Thanks!
Akil C.
Will this be automatically applied to my refund or will turbo tax ask me about it come tax time?
Hi John!
Great question! The IRS is automatically calculating refunds for taxpayers who originally paid tax on their unemployment. Refunds are scheduled to be issued through late summer. Here's an excellent article for people who are still waiting for their unemployment tax refund. Check it out and let me know if you have any further questions I can help you with.
Thanks,
Akil C.
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