Amend my 2020 tax form my 2020 tax form to get covert to get covert refund

Forum|Forum|5 years ago
May 7, 2021
1 reply
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I filed my 2020 tax return at the end of Feb 2021... after sending it in, the IRS said they would give credit for unemployment and we did not have to make an amended form and the IRS would take care of it sending us the additional refund?

We have not got the additional money yet.

Is this true? if not what do I do to get my additional refund for unemployment?

I use TurboTax from a down load on my computer...

Thanks

VolvoGirl

Employee

Yes it's true but the IRS will take a while to send it to you.

You can exclude up to 10,200 of unemployment unless your income is over 150,000. The IRS will recalculate your return for the new unemployment exemption if you already filed.

You can log back in or open your return and it should automatically update your return and show you the new refund. But the updated return won't be sent. The IRS will adjust it for you. You may need to update the Desktop program for it.

If you have filed. The IRS will recalculate your return for the new unemployment exemption for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.
https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may