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August 1, 2021
Question

When will the irs auto correct for unemployment?

  • August 1, 2021
  • 1 reply
  • 0 views
Has anyone who filed through TT received a refund for this yet?

1 reply

DoninGA
Employee
August 1, 2021

The IRS is calculating tax refunds for the unemployment compensation exclusion for all those who are eligible.  The refunds started to be distributed in May and will continue throughout the summer in batches.

 

What do you mean "can we then use this to file against next year"?

 

Go to these IRS websites for information on the unemployment compensation exclusion - 

 

https://www.irs.gov/newsroom/irs-continues-unemployment-compensation-adjustments-prepares-another-1-...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs