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April 28, 2021
Question

Due to the Fed $10.2k exemption on unemployment, how can I adjust the tax payment amount on my 2020 return already filed? I don't want to overpay.

  • April 28, 2021
  • 1 reply
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1 reply

AmyC
Employee
April 30, 2021

You can open your return and see the changes to get the corrected amount due.  Then you can pay at Payments.

 

The IRS will adjust if a credit is already on the return.

 

You can amend if the credit is not on your return and should be - after the IRS is done.

 

 

Some credits that could be added:

 

Earned Income Credit eligibility:

The greater of AGI or earned income must be less than:

  • $15,820 ($21,710 for MFJ) with no qualifying children,
  • $41,756 ($47,646 for MFJ) with one qualifying child,
  • $47,440 ($53,330 for MFJ) with two qualifying children, or•$50,954 ($56,844 for MFJ) with three or more qualifying children. 

Child Tax Credit

 

Education credit, retirement savings and more!

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