When will turbotax post the latest covid-19 relief unemployment tax changes?

[flynvartranch]

The new relief bill allows an individual to claim $10,200 unemployment tax break.
When will turbotax update this change?

[DoninGA]

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures.  And after the IRS has changed any forms or schedules to accept the tax code changes.  And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

This can take anywhere from several weeks to several months before it becomes available.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

[ippie69]

so what is the recommendation? Do I file now and include the covid 19 relief unemployment payments (and pay tax on those payments) or wait to file until Turbo Tax makes the softweare change?

[DoninGA]

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@ippie69 wrote:

so what is the recommendation? Do I file now and include the covid 19 relief unemployment payments (and pay tax on those payments) or wait to file until Turbo Tax makes the softweare change?

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For the unemployment compensation exclusion the IRS will handle it starting in May so there is no need to amend a return for the exclusion.  Go to this IRS website for information - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

[Demalo625]

I have alright file my tax return and i added my unemployment will the irs will fix that or i have to change it 

[DawnC]

They IRS will adjust your unemployment if you filed before the exclusion was applied.   You do not need to amend.  If you have already received your refund, the IRS will be sending out additional refunds in May for those returns that were processed before the changes were implemented.     @Demalo625

[willerupdames]

What do we do if we never received the unemployment adjustment? Do we file an amendment now? I feel 9 months is ample time to be patient.

[ZoltanB45]

The IRS is so behind on last years processing of tax returns, that amending the return to make the $10,200 reduction of unemployment income, will not speed them up. Here is a link illustrating how far they are behind.

processing delays