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

Unemployment - no longer taxable?

JML222
Level 4

Noticed part of the last stimulus bill included a provision to make unemployment nontaxable up to $10,200

https://www.cbsnews.com/news/unemployment-benefits-tax-exempt-american-rescue-plan/

Given I've already filed returns for a few clients who have received UI, am I stuck with filing amended returns?

 

0 Cheers

This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion

1 Solution

Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

Dozens of posts here about it. https://proconnect.intuit.com/community/proseries-tax/discussion/03/303

IRS says dont amend yet....sounds like maybe they'll make an adjustment automatically rather than contend with soo many 1040X returns.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

3 Comments 3
Just-Lisa-Now-
Level 15
Level 15

Dozens of posts here about it. https://proconnect.intuit.com/community/proseries-tax/discussion/03/303

IRS says dont amend yet....sounds like maybe they'll make an adjustment automatically rather than contend with soo many 1040X returns.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
JML222
Level 4

Does anyone have insight as to when the IRS will resolve this issue for filed returns?

The client had $417 withdrawn from her account prior to the nontaxable order. No communication from IRS. Any recommendations?

Thanks!

0 Cheers
sjrcpa
Level 15

Just wait. IRS has started to adjust some returns.


Ex-AllStar