Revised Tax Code after filing my taxes

[Naggers]

Hi everyone, hoping to get some guidance.

I filed my 2020 taxes and at the time of filing Turbo Tax calculated that I owed a certain amount. I still had a few months before having to pay my taxes to the IRS so I waited. Later a new tax law was implemented before the tax deadline date and so when I went back to Turbo Tax to take a look at my return it had recalculated based on the new tax law and showed that I owed much less.

So, I ended paying the IRS the lower amount and now they are requesting the original higher amount, totally disregarding the new tax law.

My question is, am I obligated to pay the higher amount because I filed my taxes prior to the new tax law even though the new tax law was implemented before the tax deadline date? And if so, will I get that money back on my 2021 tax return? Thanks

[xmasbaby0 · Accepted solution]

We are starting to see a lot of questions like yours.   Since you prepared your tax return and filed before the tax law changed for the tax on unemployment, you owed tax due and then learned you should not owe so much or might even get a refund---so you did not pay your tax due by the May 17 deadline.   Now the IRS computers are churning out notices to people who did not pay their tax due.

Eventually---sometime during the summer--- the IRS will recalculate the amounts of tax due or refunds for people whose returns were filed before the law changed----but it may take a few more months.

Call the number on the notice you received from the IRS----it will probably be hard to get through---but be tenacious.

[Naggers]

Thanks for the response. I have been trying to contact them and have found it difficult but I will keep trying.

[Johnsoon123456]

How its done!!!

[xmasbaby0]

@Johnsoon123456 You have added to an old thread.   Your question is not clear.  What are you trying to do?

[Prohealthgram]

I filed a paper return before Indiana changed the laws to reflect the Cares Act revisions on early distribution of 401K, and now want to file my 2021 on Turbo tax online. BUT when TurboTax pulls my paper return pdf into the system it changes my already filed and processed return showing the revisions which then shows a refund rather than the fact that I paid all the taxes for the distribution rather than spreading them over the 3 years allowed on the federal return?!?!?