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Refund for unemployment benifits

How do I know what that amount will be
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2 Replies

Refund for unemployment benifits

No one at TurboTax can tell you---we cannot see your information.   All you can do is wait for the IRS to calculate it and send it to you.   They began to send out those refunds in May and will continue to send them out.

 

If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

 

 

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

 

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

 

 

 

You *might* need to amend your state return for unemployment that was taxed by your state.

 

https://www.kiplinger.com/taxes/state-tax/602307/taxes-on-unemployment-benefits-a-state-by-state-gui...

 

 

https://www.kiplinger.com/taxes/602542/irs-sending-more-unemployment-tax-refund-checks-in-june?rid=E...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Refund for unemployment benifits

@Lindseybeshears83 

 

Please refer to your Form 1040 after TurboTax updates for the change in the Tax Code have been applied.

The difference between what you saw before and what you see now is what you will get back.

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