is it necessary to amend the federal tax return due to the unemployment compensation exemption

[wmlipp]

I filed tax return that contained unemployment compensation prior to the cares act.  Is it necessary to filed amended tax returns for those clients.

[TAXOH]

No.  IRS said to not amend.  They are supposedly going to make the necessary adjustment.

[VTaxes]

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...