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March 31, 2021
Question

I filed and paid my 202 federal and state taxes on Feb 27. Since then the government said we do not have to claim out unemployment com as income. Thus, I overpaid taxes owed on the federal and NC form. Need guidance on how to proceed.

  • March 31, 2021
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    1 reply

    March 31, 2021

    Do NOT amend your tax return for the new unemployment exclusion. With this new law, if your household income is less than $150,000, the first $10,200 of unemployment will be tax-free, but any amount you receive above that will be taxed.

     

    The IRS has announced that they will include this change and adjust your return accordingly and do NOT want taxpayers to send in an amended return. It will take unusually extended timeframes for this to occur.

    You must wait for them to complete the task, and then they should issue the refunds.  You may have to review NC rules on their direction.

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    cwerbyloAuthor
    March 31, 2021

    So the IRS will refund a part of whatever I sent in on Feb27th?

    AmyC
    Employee
    March 31, 2021

    Yes, the IRS will begin processing those in the spring and summer.

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