turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

What is guidance for if one already filed 2020 taxes and then the unemployment tax change of 3/11/2021 changed?

Already filed for 2020.  Borrowed $ from relative to pay my amount due.  Now I learn that the first $10,2000 of unemployment benefits is tax-free for people with incomes less than $150,000.  So I believe I need dollars back that unfortunately were already paid to the IRS.

 

Does this tax break apply both to regular unemployment dollars received and Pandemic Unemployment Insurance dollars received?

 

Thank you.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

What is guidance for if one already filed 2020 taxes and then the unemployment tax change of 3/11/2021 changed?

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.

**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.**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies