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In this video, the speaker follows up on a previous video discussing the exclusion of the first $10,200 of 2020 unemployment income from federal taxable income before the passage of the American Rescue Act. They provided two options for individuals who received unemployment compensation in 2020: file now including unemployment as taxable and amend later if the exclusion becomes law, or wait until it's clear what will happen with that proposal before filing. As of March 14th, the exclusion is still in effect, providing relief to those impacted by the COVID-19 pandemic.