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

Level 1

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

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2 Replies 2
Level 10
Level 10

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

Level 1

Based on this news release it will depend on if the change would entitle the client to new credits otherwise it is not needed.