I am an Enrolled Agent for H&R Block. Our software was updated for the $10,200 unemployment exclusion per spouse in mid March. Another change is that the Marketplace (Obamacare) 1095-A Premium Tax Credit Repayment (form 8962) is being excluded.
Texas, Louisiana, and Oklahoma filing deadline is June 15. Filing deadline for the rest of the US is May 17.
I completed about 25 returns with unemployment before the $10,200 exclusion per spouse was in place. Many of those clients have received the original return refund. A few had a balance due on the original return and now have a refund. I contacted all of the affected clients.
We have been told not to amend the affected returns. The IRS will make the adjustment starting in May. They will first adjust Single/Head of Household and then Married Filing Joint returns. For the extra refund, not sure if they IRS will make a check or direct deposit it if the original refund was direct deposited.
the real issue isn’t the $10,200 done a few days ago, but the increased amount of SSA and pension payments that are non-taxable ... THAT change JUST happened in the last few hours and probably affects FAR more people than the $10,200 ...
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