Ask Terry Questions Latest Democrat deal would give Americans a tax waiver on the first $10,200 of their 2020 unemployment benefits

Latest Democrat deal would give Americans a tax waiver on the first $10,200 of their 2020 unemployment benefits

By Terry Savage on March 07, 2021 | Wild Card

This just passed in the senate and likely will pass in the house next week, I’m just finishing my 2020 taxes and looks like I have to owe on 9800 in UE that was not taxed…how Should I proceed?

Terry Says

Let’s just see how the compromise works out– the next step in getting this bill passed. Should be this week, and then I will get info from the IRS on how they are handling this for people who have already filed. You should wait a week.

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