IRS Says Some Will Have to Amend for $10,200 Unemployment Exclusion!





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In this episode I go over an IRS update on the $10,200 unemployment compensation exclusion for those who filed their 2020 tax return before the American Rescue Plan Act made the first $10,200 of unemployment compensation (per person) earned in 2020 tax-free.  This update includes when people might start seeing refunds attributable to the exclusion as well as the people who may need to file an amended return to account for the tax effects of the $10,200 unemployment exclusion.

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