Unemployment Adjustment

[grossie]

Is my understanding correct that the IRS will reimburse taxpayers for the UC adjustment.

Amended returns will not need to be filed?

Thank you.

[Just-Lisa-Now- · Accepted solution]

https://twitter.com/IRSnews/status/1373696157814296581/photo/1

[Camp1040]

I am so happy I don't use that tweeter thing😊😊

[grossie]

Thank you.

[abctax55]

🐦🐦

@Camp1040  - THOSE are the emojis you should have use....

[qbteachmt]

Just to clarify: "that the IRS will reimburse taxpayers for the UC adjustment"

Uh, no. The expectation is they will rework the tax filing to "do the math" if something is filed incorrectly (such as, before the form calculations were updated for the UI exclusion).

The use of the word "reimburse" is a bit problematic. That isn't what happens.

[jclark11]

The problem is a previous filing of mfj should be amended or superseded tax return should be filed because mfs will get some of them under the threshold and get to excluded the full amount.

[qbteachmt]

"The problem is a previous filing of mfj should be amended"

The IRS has emphatically stated in more than one place and on more than one occasion that you are not supposed to Amend at this time. That's not a problem; that's not even necessary right now.

[abctax55]

Michele, @jclark11 is referring to a situation whereby switching from MFJ to MFS may be beneficial due to the new UCE.  In those cases, the switch must be done by either an amended or (IMHO) a superseding return.  It is not a scenario that the IRS will do for the taxpayer.

[qbteachmt]

When one posted is in someone else's topic, it helps not to confuse things by posting what does not apply.

The OP asked about amendment, too. That is not the same as the comment regarding splitting a return. These are separate issues.

Should you amend a return for the UI exception: No, the IRS asked you not to do this.

Should you amend a return to Change the filing status: Perhaps. That's something to analyze.

[abctax55]

You quoted @jclark11 - and his/her comment was specific to the MFJ & MFS situation.  

I agree that mixing/matching in the same thread is confusing.  

I'm documenting that, with regards to jclark's post, waiting for the IRS is not an option.