Re-file from H&R Block after Rescue Act?
March 23, 2021 1:32 PM   Subscribe

We filed taxes promptly, like good boys and girls. Then H&R Block updated their tax software, and our refunds changed. Do we need to re-file, or will the IRS silently correct our return? One of the returns already as shows as "processing."

Obviously, only suckers file before the very last minute. :7)

This is for my college-age kids, who were affected when the rules around unemployment changed.
posted by wenestvedt to Work & Money (4 answers total) 1 user marked this as a favorite
Best answer: There has been no official announcement to this effect, but the IRS is expected to automatically correct already existing tax returns and issue a refund for the difference in taxes.
posted by saeculorum at 1:43 PM on March 23, 2021 [1 favorite]

Best answer:

If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.
posted by General Malaise at 1:47 PM on March 23, 2021 [4 favorites]

The HR Block website is pretty sneaky in that some credits such as health care premium credits require filing forms that are not available in the free version. If you know for a fact your new figures will change the amount of your refund (and not make you owe ) you will get a letter stating the reason for the change and perhaps a request for additional information however the online "wheres my refund" tool will not work since the refund amount is different and your direct deposit will now be a paper check. There is an extension on the filing deadline to May 15 so if you have any important amendments you should respond to any correspondence from them as soon as you see it otherwise you have some time to wait. Also if your stimulus payments had not been received until after the filing dont worry, they already have that info and will adjust the return accordingly.
posted by The_imp_inimpossible at 3:30 AM on March 24, 2021

The extended date is May 17th and thought we use Tax Slayer in my group, the instructions we have is like everyone has said, that the IRS will handle correcting any returns that were filed without the 10.2K exclusions.

You need to ensure that your state return is adding that money back into their income (assuming your state is still taxing that money). There were a few days where ours was doing Federal correctly but not adding it back for the state returns. It was updated in less than a week but it is something to verify.
posted by soelo at 12:46 PM on March 24, 2021

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