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new unemployment exemption

DITZIL
Level 1

Can i now exempt the first 10,200 of unemployment from taxable income. When can I file the amendments for those who already filed unemployment benefits as taxable?

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IntuitCharlene
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While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available. 

For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.

Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community.

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Jonesey
Level 2

Everything I've read said to hold off on both the amendments and tax returns containing unemployment that would qualify for the exemption until IRS gets it figured out.

IntuitCharlene
Moderator
Moderator

While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available. 

For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.

Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Accept as solution"

View solution in original post

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