Question

We owe this year on federal and state taxes. but have not submitted payment yet. I paid federal taxes on unemployment which is more than we owe. where do i go from here?

Forum|Forum|5 years ago
May 2, 2021
1 reply
0 views

We have already filed. Before the law went into effect.

TurboTax Deluxe Online

Employee

If you had a tax due on the original return and haven't paid yet you don't have to pay it. Wait for the IRS to send you the new refund or a new bill.

If you already filed and didn't get the 10,200 unemployment exclusion you do not need to amend. The IRS will be adjusting it for you. See,

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

You can log back into your return and it should automatically update your return and show you the new refund. But the updated return won't be sent. The IRS will adjust it for you.

fanfare

Employee

@VolvoGirl

where does the IRS say you don't have to pay the "amount you owe" shown on your filed tax return by May 17th.?

VolvoGirl

Employee

@fanfare

If you had a Tax Due but haven’t paid yet, we’re pretty sure you don’t have to pay it now if you will be getting a refund. See the employee answers on this post. Especially the last post by AmyC
https://ttlc.intuit.com/community/after-you-file/discussion/re-question-regarding-10-200-unemployment-credit/01/2256769#M573341