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When will we recieve this income and why havent i recieved my refund i filed taxes with turbo tax already past 5 years and never had a payment delay whats going on why aint i been paid and whats going on with mt refund
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When will we recieve this income and why havent i recieved my refund i filed taxes with turbo tax already past 5 years and never had a payment delay whats going on why aint i been paid and whats going on with mt refund
Hello Reina2
I understand it can be frustrating waiting for the additional refund due to the unemployment compensation exclusion.
First, you'll want to review your return and confirm you included the unemployment compensation on your tax return. It would appear on your 2020 Schedule 1 Line 7. If it was included, and no exclusion on your 2020 Schedule 1 Line 8, then you do not need to amend, the IRS is automatically adjusting the returns.
The IRS has said that payments will continue "throughout the summer," which means that unless we hear something else, payments could continue through September 22nd.
You may request a tax transcript that would reflect if the IRS has made changes to your filed tax return. There are different types of transcripts, I recommend the Record of Account Transcript.
https://www.irs.gov/individuals/get-transcript
Here is a link to check the exclusion amount you would be eligible.
https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs-topic-b-calculating-the-e...
Thank you for being a long time TurboTax user! I hope you find this useful!
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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When will we recieve this income and why havent i recieved my refund i filed taxes with turbo tax already past 5 years and never had a payment delay whats going on why aint i been paid and whats going on with mt refund
Hello Reina2
I understand it can be frustrating waiting for the additional refund due to the unemployment compensation exclusion.
First, you'll want to review your return and confirm you included the unemployment compensation on your tax return. It would appear on your 2020 Schedule 1 Line 7. If it was included, and no exclusion on your 2020 Schedule 1 Line 8, then you do not need to amend, the IRS is automatically adjusting the returns.
The IRS has said that payments will continue "throughout the summer," which means that unless we hear something else, payments could continue through September 22nd.
You may request a tax transcript that would reflect if the IRS has made changes to your filed tax return. There are different types of transcripts, I recommend the Record of Account Transcript.
https://www.irs.gov/individuals/get-transcript
Here is a link to check the exclusion amount you would be eligible.
https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs-topic-b-calculating-the-e...
Thank you for being a long time TurboTax user! I hope you find this useful!
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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