Name: Tax Free Unemployment Income for the 2020 Tax Year
Uploaded: 2022-01-05T10:00:00+00:00
Duration: 3 min 10 s
Description: Under the American Rescue Plan signed in March 2021, the federal government mandated that unemployment compensation paid during the 2020 calendar year should be exempt from federal income taxation up

2 years ago

311

Under the American Rescue Plan signed in March 2021, the federal government mandated that unemployment compensation paid during the 2020 calendar year should be exempt from federal income taxation up to $10,200.

If you already filed your tax return, the IRS should be adjusting your tax return automatically, and sending you a refund check.

If you have not received your refund check, you may consider filing an amended Form 1040X to adjust the taxable income and receive a refund.

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