Amend 2020 Returns

[Brainstrom]

I may have missed this and I apologize. Do we have to do Amended returns for those who had unemployment and the tax refund amount was changed from the Originally filed return.

[sjrcpa]

No for federal.

[abctax55]

Per the IRS Alerts (which you should sign up for...) specifically say NOT to amend.

They'll fix it.

When is the real question....

[Brainstrom]

When, When, When is right!!! If you open a client that had changes due to the unemployment it says please review changes, you may need to file an Amended return. Hmmm, great tax season

[BobKamman]

From the IRS website:

"These refunds are expected to begin in May and continue into the summer.

The agency will do these recalculations in two phases.

First, taxpayers who are eligible to exclude up to $10,200.

Second, those married filing jointly who are eligible to exclude up to $20,400, and others with more complex returns."

Nothing specific on what they mean by "more complex returns," but probably those where a change in AGI means a change in credits or deductions. 

And of course, no word on whether they will pay interest without a claim having been filed.