{ "media_type": "text", "post_content": "So the new tax provision in the $1.9 trillion bill determined first $10k unemployment payment paid in 2020 tax excludable. We E-filed a few individual tax returns by importing Form 1099-G with tax withheld. Should we wait for the dust settles and see if we need to file amendments for all of them? It’s an easy amendment but just try to avoid any unintended consequences by acting too fast.", "post_id": "604cf1f3de6bd30020ab640c", "reply_count": 5, "vote_count": 2, "bowl_id": "599555b669a73a0010aab3ac", "bowl_name": "Tax Bowl", "feed_type": "bowl" }
null

So the new tax provision in the $1.9 trillion bill determined first $10k unemployment payment paid in 2020 tax excludable. We E-filed a few individual tax returns by importing Form 1099-G with tax withheld. Should we wait for the dust settles and see if we need to file amendments for all of them? It’s an easy amendment but just try to avoid any unintended consequences by acting too fast.

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Supersede the returns before the original due date.

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They came out with guidance today to hold off on filing amendments.

likehelpful

Maybe not today. I put today because I saw it today.

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Google it. It literally says wait and not to amend if you filed and for those who haven’t to wait until they update the forms. It has been a couple of days that they sign the law. Let them do their job.

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Is there more guidance out or should people go ahead and superseed? Also, does turbo tax offer this, my brother already filed and just asked me about this earlier today. I don’t him I don’t do personal income taxes so I didn’t really look into it. But damn, Biden making it rain

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likehelpful

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