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Level 2
posted Feb 17, 2021 12:08:02 PM

Look back rule

Will using the look back rule delay your refund?

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1 Replies
Intuit Alumni
Feb 22, 2021 11:53:45 AM

The special lookback rule will allow lower income individuals to use their earned income from 2019 to determine their Earned Income Tax Credit and the refundable portion of the Child Tax Credit in 2020, since their lower 2020 income could reduce the amount they are eligible for. 

 

Due to the PATH ACT, The IRS usually begins issuing tax refunds on returns with the EIC or Additional Child Tax Credit in late February.