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March 24, 2022

IRS Updates FAQs on Unemployment Compensation Exclusion

The Internal Revenue Service has revised its frequently asked questions (FAQs) on 2020 unemployment compensation exclusion.

The Internal Revenue Service has revised its frequently asked questions (FAQs) on 2020 unemployment compensation exclusion.

This Fact Sheet (FS-2022-21 PDF) updates the 2020 unemployment compensation exclusion frequently-asked-questions (FAQs). These updates are:

  • Question 6, Topic A: Eligibility (NEW)
  • Questions 1, 2, 4, Topic D: Amended Return (Form 1040-X)
  • Question 2, Topic E: Impact to Income, Credits, and Deductions
  • Question 1, 8, 9, Topic G: Receiving a Refund, Letter, or Notice
  • Question 1, Topic I: Post Unemployment Compensation Exclusion Adjustment
  • Question 1, Topic J: Economic Impact Payment

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

More information about reliance is available.

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