Question

Will turbo tax be updating changes for unemployment tax break $10200.00?

Forum|Forum|5 years ago
March 6, 2021
1 reply
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TurboTax Self Employed Online

Employee

If the bill passes, then yes, TurboTax will be updated to reflect current law anytime the tax law changes.

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L

lenaann89

When will the software update take place? If we haven't filed but have completed all other steps, will there be additional steps that users will need to do to make the update effective? I currently have completed filling in all the info but have been waiting to file until I saw the outcome of the bill.

DoninGA

Employee

@lenaann89 wrote:

When will the software update take place? If we haven't filed but have completed all other steps, will there be additional steps that users will need to do to make the update effective? I currently have completed filling in all the info but have been waiting to file until I saw the outcome of the bill.

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures. And after the IRS has changed any forms or schedules to accept the tax code changes. And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

This can take anywhere from several weeks to several months before it becomes available.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859