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Is there any update on the tax free unemployment bill?

LauraB
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?

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8 Comments 8
Just-Lisa-Now-
Level 15
Level 15
Your guess is as good as anyone elses.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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BobKamman
Level 15

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.  

sjrcpa
Level 15

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


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qbteachmt
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."

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brighter01
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
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sjrcpa
Level 15

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


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IRonMaN
Level 15

How come Intuit hasn't updated the form yet?

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


Slava Ukraini!
brighter01
Level 1

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

Brighter01
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