2020 Illinois tax adjustment for unemployment wages
Illinois was going to automatically adjust tax returns for 2020 taxes for the elimination of the $10k of unemployment wages but I never received a refund for the change and I am not sure what to do about filing my 2021 taxes. Any help or advise would be greatly appreciated.
Terry Says
Illinois is particularly opaque when it comes to unemployment or taxes. I haven’t seen the Illinois tax forms, but you could ask your tax preparer if there is a place to “claim” a refund for taxes previously paid on the first $10,200 on unemployment benefits. Of course, this is supposed to happen automatically.
If there is not a place, you could easily calculate the amount and pay that much less in taxes. If they contact you, you can explain that you didn’t get your refund!
