|3/25/2021 11:27:00 AM|
Amended tax returns will need to be filed
Don't know how many people watch the news so thought I'd share this as it may apply to you.
The Covid-19 Relief bill just passed by the House has a surprise provision: the 1st $10,200 of unemployment benefits earned in 2020 will be TAX EXEMPT (at the federal level).
If you've already filed your taxes, an amended return would need to be filed with the IRS. Tax preparers will receive IRS guidance in in the next few weeks.
I hope this is welcome news to many.
Eileen Z. Fitzsimons
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