Should I wait to file taxes given the recently passed COVID relief bill? Want to make sure I don't accidentally pay for something that should be waived (fed withholding)

palindromegrace · ‎March 14, 2021

I saw an annotation once about the new bill but am not sure if TurboTax simply is updating to include that measure or not. Bill permits that federal withholding up to $10,200 is waived

xmasbaby0 · ‎March 14, 2021

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.

If you have not e-filed yet—-wait. And if you already e-filed and want to amend for this—WAIT.

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

**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.**

palindromegrace · ‎March 14, 2021

Thank you! I will wait as I seem to have been advised all around

Perhaps a relevant and helpful info from the IRS directly:

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

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Should I wait to file taxes given the recently passed COVID relief bill? Want to make sure I don't accidentally pay for something that should be waived (fed withholding)