IRS will figure your new UI deduction if you have already filed 2020 taxes. No need to amend.
Good news...but how and when will they inform us? We owe the IRS over $4000. This new law makes $18,000 of our already reported unemployment benefits exempt from taxes. That $18,000 will cut our bill significantly.
https://www.lohud.com/story/money/personal-finance/2021/03/24/federal-unemployment-tax-returns-claiming/6981804002/
= new reply since forum marked as read
I filed back in February because I did not get the $600 stimulus money (stim. #2), and I wanted them to have my direct deposit info. I claimed the $600 on my 1040 form, and it cut my tax deficit from $670 to $70 which I haven't paid yet. Looks like now, with much of my unemployment comp. not taxable, I'll be getting a refund! And now I don't have to file an amended return, that's just icing on the cake! The only thing better would be to get my $1400 (stim #3). The IRS has my bank info, but no date yet as to when I actually get it.
