IRS Releases Updated Fact Sheet on 2020 Unemployment Compensation Exclusion

IRS updates frequently asked questions about the 2020 unemployment compensation exclusion

December 2, 2022

The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2020 unemployment compensation exclusion in Fact Sheet 2022-39. The updates are:

• Topic D: Amended Return (Form 1040-X): Combined question 1 and 2, removed question 3 and renumbered question 4

• Topic E: Impact to Income, Credits, and Deductions: Question 2

• Topic G: Receiving a Refund, Letter, or Notice: Questions 2, 3, 5, 8 and 9

• Topic H: Finding the Unemployment Compensation Amount: Question 2

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