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1031jls
New Member

When will the unemployment tax credit kick in?

 
2 Replies
xmasbaby0
Level 15

When will the unemployment tax credit kick in?

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.

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.**
1031jls
New Member

When will the unemployment tax credit kick in?

So should file for an extension or go ahead and file now then file an amended return I owe taxes this year so it'll just make my bill smaller I'm guessing 🤔

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