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Can you Efile a 2020 corrected individual tax return before the April 15 due date in lacerte, as recommended by IRS instead of filing an amended return?

Flynaj
Level 2
This applies to unemployment insurance reported as taxable income on returns filed before passage of Rescue America Act.
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abctax55
Level 15

Based on the 100+ posts here, and the official directive from the IRS - No, not yet.

AND I 'ass-u-me' you really mean an amended return?

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IRonMaN
Level 15

Didn't you mean the 1,000+ posts?


Slava Ukraini!
Flynaj
Level 2

Nope, the IRS recommended you file a "corrected" return rather than an amended return, IF you do it before April 15.   I have never done this.

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abctax55
Level 15

Really?   Corrected?

Please provide a link so stating that fact.

 

 

"*******Tax software is no substitute for a professional tax preparer*******
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qbteachmt
Level 15

@Flynaj 

Where does your Lacerte program offer a Corrected 1040?

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Flynaj
Level 2

I dont think it does, that was my question.  I think you can only efile an original return once.

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Flynaj
Level 2

Its called a superseding return, and for individuals you use 1040X.  The IRS has asked that you not file amended returns yet for unemployment reported as income on returns filed.

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

https://www.thetaxadviser.com/newsletters/2020/may/covid-19-coronavirus-tax-relief-quirks.html

 

sjrcpa
Level 15

1040X = amended return.


Ex-AllStar
Flynaj
Level 2

I read today that the IRS said it will automatically refund taxes paid on unemployment benefits reported as taxable income on returns filed.

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abctax55
Level 15

Could you please provide a cite on that, thanks.

All I've heard is that the IRS is considering that route.

"*******Tax software is no substitute for a professional tax preparer*******
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