Question

Is the unemployment waiver update ready?

Forum|Forum|5 years ago
March 20, 2021
1 reply
0 views

Checked on 3/19/21 and did not see any updates. When I did update, message says my updates are up to date

TurboTax is still waiting on guidance from the IRS to implement the changes of the American Rescue Plan. If you haven't filed then please sign up here to receive updates.

If your modified adjusted gross income (AGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income.

If you have already filed then please do not amend your 2020 tax return, the IRS will soon provide taxpayers with additional guidance what to do. If you want to receive updates then please sign up here.

"For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance." Please see IRS statement American Rescue Plan Act of 2021 for details.

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V

vingtsun

When are you going to update the Maryland taxes?? In January they announced that they were not going to tax unemployment insurance payments. I am doing my son's taxes and all he has is unemployment and it shows he owes $40!!!! That is after this mornings update. When can we expect the Maryland update or do we need to go to H&R Block which has issued the update????

H

HeatherPLO

We are showing that this should be updated for filing. Please see the Help Article here for more details. Are you using TurboTax Online? If so, try this and see if this clears the issue for you. Please log completely out of TurboTax. Then, in your browser, please clear your cache and delete your cookies. After this, close completely out of the browser. Re-open everything including logging back into TurboTax. Also, you can try completing your return in a different browser as well.

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