Taxable unemployment

Forum|Forum|5 years ago
March 17, 2021
11 replies
52 views

I was wondering if anyone knew what was happening with unemployment. The last stimulus came with the thought that they would not tax the first $10,000.00 of unemployment. Does anyone know if that is going to become something that we will have to fix or is IRS going to fix it for everyone that received unemployment? This was supposedly going to be retroactive back to 2020 taxes.

ProSeries Basic

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Just-Lisa-Now-

Intuit Community Champion

You should sign up for IRS emails so youre not the last one to the party.

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

sjrcpa

Level 15

https://proconnect.intuit.com/community/proseries-tax-news-updates/discussion/american-rescue-plan-updated-03-16-21/00/139713

The more I know the more I don’t know.

qbteachmt

Level 15

The bill is law, and it exempts $10,200 per person of UI, based on the qualifications. The ProSeries program should be updated tomorrow with the new provision.

Don't yell at us; we're volunteers

IRonMaN

Level 15

Just hold on to your horses a little longer. Intuit is supposed to be releasing an update tomorrow afternoon to handle it. However, your state handling of it is probably still unknown.

Slava Ukraini!

Camp1040

Level 10

That is what I mean about a weird question, How can that question be asked this many days after the 11th. Maybe the poster has been celebrating St. Patrick's day early. I just may be a grouch!

HAPPY ST. PADDY'S DAY ALL 🍀🍀🍀🍺🍺🍺

IRonMaN

Level 15

Right about now, show me 12 tax preparers and I'll show your 12 grouches. 😖

Slava Ukraini!

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