The current COVID relief bill has the provision to exempt $10,200 of unemployment compensation from taxable income. Where will this deduction be reported - what form?
While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available.
For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.
Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community.
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