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April 13, 2021
Question

Taxes I owed were 90% unemployment tax do I get a refund

  • April 13, 2021
  • 1 reply
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1 reply

RayW7
April 13, 2021

Yes, if you paid tax on your unemployment benefits or had withholding then based on the information below you should receive a refund.  You do not have to file an amended return. 

 

The bill makes the first $10,200 of federal unemployment income ($20,400 for married filing jointly) tax-free for households with income less than $150,000. The legislation excludes only 2020 federal unemployment benefits from taxes, not unemployment income received in 2021.

  • If you have not filed your 2020 tax return, yet, TurboTax is up to date with the new law and will guide you on how to claim these additional unemployment benefits on your tax return. 
  • If you already filed your 2020 tax return, you do not need to do anything to get these additional unemployment benefits. The IRS announced that they will automatically adjust your return and send any additional refund amount directly to you. However, some people may now be newly eligible for additional deductions and credits not already included on the original tax return. In these cases, you will likely want to amend your return to claim these additional dollars. Additional information on this is below.

-follow this link for additional information-

Unemployment Stimulus: Am I Eligible for the New ...