fed taxes went down

Forum|Forum|5 years ago
April 11, 2021
1 reply
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After doing an update on my 2020 Turbotax in April, my fed tax due went down alot. I did no changes on my return. I have not sent it in yet. Is this usual?

J

JotikaT2

It depends.

Did you happen to have unemployment income on your tax return? If so, according to the American Rescue Plan, the first $10,200 on unemployment earned in 2020 could be considered nontaxable if your household income is less than $150,000. Please see the link below for additional information.

IRS Statement on American Rescue Plan

Please see the bottom of the link below as well as your return may have been affected by a few other provisions in regards to the Premium Tax Credit.

How will the 3rd stimulus affect me

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