UNEMPLOYMENT WAIVER WITH THE NEW BILL

Forum|Forum|5 years ago
March 14, 2021
6 replies
21 views

Hello, With the new bill that was passed on 3/11, it states that $10,500 unemployment benefits could be waivered. It mentions that it is retroactive. So now I wonder if the irs will take care of the waivered benefits or should I be gearing up for a lot of amended returns?

ProSeries Professional

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Best answer by Just-Lisa-Now-

Its 10,200 (details matter).

IRS has stated dont start sending amended returns, I think they may try to come up with a way to make this adjustment internally for returns that have already been filed, so theyre not swamped by amended return processing.

Just-Lisa-Now-

Answer

Intuit Community Champion

Its 10,200 (details matter).

IRS has stated dont start sending amended returns, I think they may try to come up with a way to make this adjustment internally for returns that have already been filed, so theyre not swamped by amended return processing.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

E

emcwillardAuthor

Level 3

You are right it $10200.

IRonMaN

Level 15

Gear up for the unemployment returns still coming in. The other ones go to the bottom of the pile for when things slow down. It's Sunday today. If you are religious, go to church and pray that the IRS does the changes instead of leaving it to the preparers. What the heck, even if you aren't religious, pray the the IRS takes the bull by the horns ----------------- it can't hurt.

Slava Ukraini!

Just-Lisa-Now-

Intuit Community Champion

I pray to the Technology gods all the time to make my life easier! LOL

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

S

Sanon CPA

Level 2

The IRS will figure it out soon. Either an amendment (or an additional schedule to be filed for returns already filed) or a simple internal calculation on their end. Regardless...Tax software Developers will be busy. Does anyone know if any States will allow the exclusion of the $10,200 as well?

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