11/12/2021
The Internal Revenue Service announced in a news release today that it had updated the following frequently asked questions (FAQs) on their 2020 Unemployment Compensation Exclusion FAQs page:
The updated FAQs on Fact Sheet 2021-14 are:
Topic D: Amended Return (Form 1040-X), Question 2:
What if I know I'll be entitled to a credit or deduction that wasn't claimed on my tax return? Should I file an amended return?
Topic G: Receiving a Refund, Letter, or Notice, Questions 8 & 9:
Why did I receive an IRS CP08 notice saying I may be eligible for the Additional Child Tax Credit?
Why did I receive an IRS CP09 notice saying I may be eligible for the Earned Income Credit?
Topic I: Post Unemployment Compensation Exclusion Adjustment, Question 3:
Where do I find my updated return information for my FAFSA form if my income was reduced for the unemployment compensation exclusion (UCE) after filing my 2020 tax return?
More information about reliance: General Overview of Taxpayer Reliance on Guidance Published in the Internal Revenue Bulletin and FAQs
FS-2021-14, November 2021: IRS updates 2020 Unemployment Income Exclusion Frequently Asked Questions