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Level 3
March 14, 2021
Question

Exempt Unemployment update

  • March 14, 2021
  • 1 reply
  • 8 views

How long would you expect it to take before the LaCerte program is updated to reflect the non-taxable unemployment benefits?

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1 reply

IRonMaN
Level 15
March 14, 2021

I don’t know.  How long are you thinking?

Slava Ukraini!
stuebsAuthor
Level 3
March 14, 2021

A while. State issues to consider, too. Choosing between waiting and perhaps extending or filing without claiming the exempt income and amending if needed later.. Maybe the IRS will have a way to automatically credit the returns for amounts not claimed on the return. 

IRonMaN
Level 15
March 14, 2021

You can do it yourself now for the federal, but that still leaves your state up in the air:

New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)

Slava Ukraini!