Tax refund

Hello extorre1

I understand you received your tax refund, but would like to know if you are eligible for an additional tax refund due to the unemployment compensation exclusion.

If you are due an additional tax refund will first depend on when you filed your tax return.  If you filed your tax return before the American Rescue Plan was signed on March 4, you will want to review your return.

First, you'll want to review your return and confirm you included the unemployment compensation on your tax return. It would appear on your 2020 Schedule 1 Line 7. If it was included, and no exclusion on your 2020 Schedule 1 Line 8, then you do not need to amend, the IRS is automatically adjusting the returns.

The IRS has said that payments will continue "throughout the summer," which means that unless we hear something else, payments could continue through September 22nd.

Here is a link to check the exclusion amount you would be eligible.
https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs-topic-b-calculating-the-exclusion

If you did not include the unemployment compensation on your tax return, then you would need to amend.
https://turbotax.intuit.com/tax-tips/amend-return/how-to-file-an-amended-return-with-the-irs/L6kO691J8

I hope you find this useful!