Already Filed Your Taxes? And received Unemployment?

[Willie99]

turbotax has update its software. my wife and I owed 140. now after the unemployment forgivness, were getting back around 1400

wow, that has to be record setting speed with respect to the IRS making changes

Let us know when the refund arrives

 

[kidman232]

will do

 

[kidman232]

both the federal and state returns have been accepted, not approved yet

 

[Willie99]

Does Turbo Tax submit returns directly to the IRS or are they processed through their servers first?

It's possible the IRS implemented the changes already, which would be warp speed for them, and it's possible Turbo Tax will be holding your return until the IRS is ready

I'm hoping the first is true, means my software should be ready to roll shortly

 

[kidman232]

just checked my missouri refund, its been approved and set to deposit to my account tomorrow

 

[metro]

guys at the keno parlor have times it for both to hit at the same time .. stimulus and tax return .. they are also on unemployment and / or disability

 

[Willie99]

Thompson Reuters is claiming the IRS not processing returns based on the new laws yet and there's no time table yet for them to do so

 

[kidman232]

state tax return in my bank account today

 

[Damnhook]

Wow, $1,859 difference for me. I'll take it.
Now going to put $$$ on Twins to win A.L Central (+115) and Athletics over 86 1/2 wins.

 

[Hotpizza]

Helped a friend do his taxes due to unemployment and crypto activity. Used HR Block Free version and they had the $10,200 deduction already in play. Filed his taxes, state and federal accepted and a return for federal already pending today. All of this in a 5 day window from last Friday until today.

 

[Willie99]

IRS is probably not accepting 2020 amendments filed electronically before August

Don't waste your time with a paper filing. Waiting until they accept electronically filed amendments will be quicker

Now they're saying you may not have to file an amendment, they're going to try and handle this internally and issue refunds on their own

Haha, can't wait to see this clusterfuck

 

[carlitosway]

Now they're saying you may not have to file an amendment, they're going to try and handle this internally and issue refunds on their own

Haha, can't wait to see this clusterfuck

Oh boy...thanks for the update.

 

[Knightrofins]

The IRS still hasn’t figured out what to do if u had both unemployment income and health insurance from the marketplace

 

[skoda]

The IRS still hasn’t figured out what to do if u had both unemployment income and health insurance from the marketplace

I read yesterday Premiums are being waived on Obamacare or 2021 if you collected UC..

Will you receive an Obamacare premium subsidy? | healthinsurance.org

 

[Willie99]

The IRS still hasn’t figured out what to do if u had both unemployment income and health insurance from the marketplace

Taxable social security calculations?
Impact on stimulus checks?

And what are all the states and cities doing that piggyback the IRS?

Married filing separately might result in huge windfall for some. Problem for those who already filed, can't change from MFJ to MFS

And making the 150K a cliff is huge. $ 1 of income could cost a couple 5 K in taxes

It's all so fucked up

 

[Knightrofins]

Taxable social security calculations?
Impact on stimulus checks?

And what are all the states and cities doing that piggyback the IRS?

Married filing separately might result in huge windfall for some. Problem for those who already filed, can't change from MFJ to MFS

And making the 150K a cliff is huge. $ 1 of income could cost a couple 5 K in taxes

It's all so fucked up

IRA'S are still due April 15. 1st quarter estimated tax payments still due Apr 15

I could see the IRS pushing the deadline back from May 15 to either June or July if they cant figure this out in the next few weeks

 

[Knightrofins]

I read yesterday Premiums are being waived on Obamacare or 2021 if you collected UC..

Will you receive an Obamacare premium subsidy? | healthinsurance.org

That was part of the stimulus plan. However nothing has been updated yet.

 

[kidman232]

federal refund approved, set to deposit Monday

 

[Willie99]

Taxable social security benefits are not reduced

Have to double check stimulus rebates, didn't bump into a case where it would make a difference

Connecticut adopted federal changes, that surprised me, not taxing when feds not taxing

Started processing them today

 

[Buster]

Now they're saying you may not have to file an amendment, they're going to try and handle this internally and issue refunds on their own

Haha, can't wait to see this clusterfuck

Yep here it is...Glad I won't be waiting for my money to be refunded....

Americans who collected unemployment benefits in 2020 during the COVID-19 pandemic, but already filed their taxes before Congress voted to make much of that money tax free, will get an automatic refund in the next few months, the IRS announced Wednesday. The first payments are expected to go out in May.

https://www.wcnc.com/article/news/n...-irs/507-d1269ca0-d25f-41c6-9aa9-89a4b2ed2dcf