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Unemployment - no longer taxable?

JML222
Level 4

Noticed part of the last stimulus bill included a provision to make unemployment nontaxable up to $10,200

https://www.cbsnews.com/news/unemployment-benefits-tax-exempt-american-rescue-plan/

Given I've already filed returns for a few clients who have received UI, am I stuck with filing amended returns?

 

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Just-Lisa-Now-
Level 15
Level 15

Dozens of posts here about it. https://proconnect.intuit.com/community/proseries-tax/discussion/03/303

IRS says dont amend yet....sounds like maybe they'll make an adjustment automatically rather than contend with soo many 1040X returns.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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3 Comments 3
Just-Lisa-Now-
Level 15
Level 15

Dozens of posts here about it. https://proconnect.intuit.com/community/proseries-tax/discussion/03/303

IRS says dont amend yet....sounds like maybe they'll make an adjustment automatically rather than contend with soo many 1040X returns.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
JML222
Level 4

Does anyone have insight as to when the IRS will resolve this issue for filed returns?

The client had $417 withdrawn from her account prior to the nontaxable order. No communication from IRS. Any recommendations?

Thanks!

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sjrcpa
Level 15

Just wait. IRS has started to adjust some returns.

The more I know, the more I don't know.