So there has been a bill introduced that might make the first 10 grand or so of unemployment tax free and a number of people have asked about this. I'm not encouraging holding off on filing for several reasons:
1. This is just a random bill. It's not part of the stimulus. It's not terribly likely this is going to pass unless someone big like Joe Biden or Chuck Shumer or Nancy Pelosi starts championing it. As of right now, it's just Dick Durbin.
2. If this does pass, it will be after half of America has already filed. Its unlikely the bill and the IRS would require all these people to file amended returns. Chances are the IRS could just automatically adjust people's income, and send people the difference.
3. In the unlikely event this bill passes AND we have to file amended returns to fix it, we can take care of it pretty easily after April 15.
Seriously though, Dick Durbin, the time to change tax law is December, NOT February after 50 million people have already filed. Dude.
I am however, very hopeful we will be getting another $1400, that seems pretty likely. Though whether it goes to people making up to 75k to 50k is up in the air.
Hang in there.
1. This is just a random bill. It's not part of the stimulus. It's not terribly likely this is going to pass unless someone big like Joe Biden or Chuck Shumer or Nancy Pelosi starts championing it. As of right now, it's just Dick Durbin.
2. If this does pass, it will be after half of America has already filed. Its unlikely the bill and the IRS would require all these people to file amended returns. Chances are the IRS could just automatically adjust people's income, and send people the difference.
3. In the unlikely event this bill passes AND we have to file amended returns to fix it, we can take care of it pretty easily after April 15.
Seriously though, Dick Durbin, the time to change tax law is December, NOT February after 50 million people have already filed. Dude.
I am however, very hopeful we will be getting another $1400, that seems pretty likely. Though whether it goes to people making up to 75k to 50k is up in the air.
Hang in there.
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