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SOM - Treasury: Taxpayers Should Consider Filing an Amended Return for Unemployment Benefit Tax Relief

SOM Treasury: Taxpayers Should Consider Filing an Amended Return for Unemployment Benefit Tax Relief April 27, 2021 LANSING, Mich. - Taxpayers who filed their individual income tax returns and collected unemployment benefits in 2020 should consider filing an amended return if they havent yet received their entitled tax relief, according to the Michigan Department of Treasury. The federal American Rescue Plan Act excludes unemployment benefits up to $10,200 from income for tax year 2020 for tho...
United States Danelle Gittus Rachael Eubanks Ron Leix Revenue Service Treasury Department

CASEY: Late changes by Congress may bedevil income tax filers this year

Are you ready for the latest good news and bad news regarding your federal income taxes? Today, we have a little bit of both. But it depends on your level of income, whether or not you received unemployment benefits last year and whether or not youรขย€ย™ve already filed your federal income tax return for 2020. To put it in a nutshell: The $1.9 trillion stimulus bill President Joe Biden signed into law Thursday retroactively changed the rules regarding taxation of unemployment benefits. And that...
United States Harry Schwarz Ralph Northam Uncle Sam Joe Biden Hr Block

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