Received unemployment and already filed your 2020 tax return?

761mph

Sharpshooter
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here's what i got earlier in the week.............

:::::dear TurboTax Customer,

We are contacting you because you had unemployment income on your 2020 tax return when you filed earlier this year.

Great news! The first $10,200 of your unemployment income may now be tax-free, if your household income is less than $150,000, based on the recently passed American Rescue Plan.

Even better news: The IRS says you don't need to do anything right now to take advantage of this benefit. The IRS assures us there is no faster way to get any additional money you are owed! Amending your return could delay your payment.

The IRS has not provided specific timing and details yet. We will reach back out when they do. You can also check the blog post here, for the latest information.

Thank you again for being a TurboTax customer.

Sincerely,

TurboTax Care Team::::::

i had taxes taken out of my benefits before they were direct deposited
for fed and state both it was about $12 @ week
 

Droff

Sharpshooter
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My wife also got a good bit of the 'enhanced' unemployment, we've already filed our '20 return and got our refund. Was pretty close to amending the return until I did some research on it, so holding off. Not sure I'm trusting the IRS to have all the answers but not much choice.
Going through some calculations, it should be close to a $2700 difference in our favor. We had fed tax withheld on all of it. This will also affect your state tax as that uses your federal AGI number for calculations.
 
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