Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Is there any update on the tax free unemployment bill?

Level 1

The $10,200 tax free unemployment bill was sent to committee in September.  Has there been any updates? What's the likelihood this will become law for the 2020 tax returns?

0 Cheers
8 Replies 8
Level 15
Level 15
Your guess is as good as anyone elses.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Level 12

It was sent there to die after its sponsors got the stimulus of a press release before the election.  If there had been any real support for it, it would have been included in the law that was enacted in December.  

Level 15

Durbin reintroduced it, or introduced a similar one, in February 2021.


ex-AllStar
Level 15

"The Coronavirus Unemployment Benefits Tax Relief Act would waive federal income taxes on the first $10,200 of unemployment benefits received in 2020. The tax relief would extend to both workers who received benefits through federal unemployment programs like Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) as well as those who received traditional benefits through their state unemployment insurance fund."

*******************************
"Level Up" is a gaming function, not a real life function.
Level 1

Yes you are suppose to put unemployment income on 502SU. My problem is I don't know what line. If you go to Maryland Taxes relief act information is there.

Brighter01
0 Cheers
Level 15

MD's bill was just signed yesterday. Wait for MD to adjust the 502SU and then wait for Intuit to reprogram.


ex-AllStar
Level 15

How come Intuit hasn't updated the form yet?

Just thought I would be the first of many, many posts to come.😁

This week's special - free roadrunner dinner with every return (legal disclaimer - you catch it and we'll cook it)
Level 1

Have you heard any updates? I seen where it was introduced but nothing after.

Brighter01
0 Cheers