Question

If I only paid 1344 in unemployment taxes is that what I’ll receive with the tax break or the 10,200?

Forum|Forum|5 years ago
May 24, 2021
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TurboTax Deluxe Online

Employee

You do NOT get back $10,200. You just do not have to pay federal tax on the first $10,200 of your unemployment, so you should receive some of the federal ax that was withheld from your unemployment.

Here is why you do NOT amend your federal return for unemployment:

Please read this very recent news from the IRS:

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summe

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**