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Topic	Did you receive unemployment last year and haven't filed your taxes yet?
captpackrat 04/02/21 1:43:21 PM #1:	The new American Rescue Plan Act makes the first $10,200 of unemployment tax-exempt on returns of under $150,000. This could save you $1000 or more on your taxes. You can find full instructions here: https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation If you already filed (like me), the IRS says not to file an amended return. The IRS will automatically calculate the new tax amount and issue a refund as needed. Note that this only applies to federal taxes. Your state may or may not follow suit. --- Minutus cantorum, minutus balorum, Minutus carborata descendum pantorum. <cite>captpackrat posted [p:952391113] in Did you re... [t:79383592]...</cite> <quote>The new American Rescue Plan Act makes the first $10,200 of unemployment tax-exempt on returns of under $150,000. This could save you $1000 or more on your taxes. You can find full instructions here: https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation If you already filed (like me), the IRS says not to file an amended return. The IRS will automatically calculate the new tax amount and issue a refund as needed. Note that this only applies to federal taxes. Your state may or may not follow suit. --- Minutus cantorum, minutus balorum, Minutus carborata descendum pantorum.</quote> ... Copied to Clipboard!
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