TSCPA News

IRS Updates 2020 Unemployment Compensation Exclusion FAQs

December 2, 2022

The IRS recently updated frequently asked questions (FAQs) for the 2020 unemployment compensation exclusion in Fact Sheet 2022-39. The updates are:

  • Topic D: Amended Return (Form 1040-X): Combined question 1 and 2, removed question 3 and renumbered question 4
  • Topic E: Impact to Income, Credits and Deductions: Question 2
  • Topic G: Receiving a Refund, Letter or Notice: Questions 2, 3, 5, 8 and 9
  • Topic H: Finding the Unemployment Compensation Amount: Question 2

More information about reliance is available on the IRS website.