I filed tax return that contained unemployment compensation prior to the cares act. Is it necessary to filed amended tax returns for those clients.
No. IRS said to not amend. They are supposedly going to make the necessary adjustment.
Based on this news release it will depend on if the change would entitle the client to new credits otherwise it is not needed.
https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...
