We will have a software update the morning of 3/18 to update the TaxAct Professional for the new Unemployment Compensation Exclusion Worksheet, allowing you to file returns with this new exclusion.

State Conformity
We will be updating most states with how the state agencies plan to address the new federal tax law. After the updates, you can use this FAQ to track the latest information for your state’s conformity: American Rescue Plan – Unemployment Exclusion

Previously Filed Returns with Unemployment Compensation
At this time, the IRS is strongly recommending amended returns for the Unemployment Exclusion not be filed. In the future, the IRS will release additional guidance on previously filed returns.

Advance Premium Tax Credit
Please stay tuned because the IRS’s priority was the Unemployment Exclusion change. We expect more information on the APTC in the near future.