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American Rescue Act — Identifying potential returns (Update 3/23)

23 Mar 21
Kim Manuel
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Update 3/23:  The 1099G column is NOW populating YES for returns that have not been electronically filed.  You may need this information for the state portion of the returns.  The IRS has issued guidance to NOT file a 1040X for the purposes of amending the return for the purpose of the new changes to unemployment.


 

Note (3/17):  The 1099G column is currently not populating YES for returns that have not been electronically filed.  The issue has been identified and will be corrected so that non-filed returns will also be reflective of the 1099-G.  We want to emphasize that this is a proactive approach and the IRS has issued a statement to HOLD OFF on revising returns previously filed.


 

The IRS has NOT announced how to handle returns already filed containing Unemployment Compensation Form 1099G or Repayment of the Premium Tax credit.  At the site level this information can be found by pulling 2 separate Management Reports.  To view returns containing Unemployment Compensation run the Pro Web Returns-Detailed Return Report, there is a column 1099G if a Y appears that return has Unemployment.  To view returns containing a Repayment of the Premium Tax credit, run the Site Production Detail Report, look for the column Total Adv PTC Repayment.

The IRS has issued a statement to hold off on revisiting returns previously filed.

We are still waiting on IRS guidance on making any programmatic calculation changes.

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