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EIC due to UI Exclusion

lgmagsayo
Level 2

Do I need to amend the tax return if the client qualifies for EIC due to Unemployment Income Exclusion?

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IRonMaN
Level 15

Eventually you will.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

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IRonMaN
Level 15

Eventually you will.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

View solution in original post

BobKamman
Level 14

Yes.

"For example, the IRS can adjust returns for taxpayers who claimed the earned income tax credit and, because the exclusion changed their income level, may now be eligible for an increase in the EITC amount.

However, taxpayers would have to file an amended return if they did not originally claim the EITC or other credits but are now eligible to claim them following the change in the tax law."

https://www.irs.gov/newsroom/irs-will-recalculate-taxes-on-2020-unemployment-benefits-and-start-issu...