2350443
I just read one of the experts' responses to a different client's question. In their response is a link to information about the unemployment compensation and the Rescue Act. I am wondering why I received an email earlier this year from TurboTax prompting me to file an Amended Federal return, especially when the information I just read states that the IRS would automatically figure new refund amount based on the fact that I paid taxes on all of my UEC monies? I'm confused, at best.
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Unless the tax law change made you newly eligible for another credit like earned income credit, you do not have to amend. You just need to wait for the extra refund.
The most recent batch of unemployment refunds went out in late July 2021. The IRS has not announced when the next batch will be sent out, but they are still working on them.
The IRS is recalculating refunds for people whose AGI is $150K or below and who filed before the tax law that changed the amount of unemployment that is taxable on a federal return became effective.
The IRS began to send out the additional refund checks for tax withheld from unemployment in May. The refunds are being sent out in batches—starting with the simplest returns first. If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months. TurboTax cannot track or predict when it will be sent. The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.
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