- Like NCperson mentioned; it wouldn't be prudent to file asap via TurboTax, like today for example, because TurboTax software isnt up to date yet to accommodate the 2nd stimulus requirements just announced on Wednesday. So, is this to say that if one (hypothetically) filed with proper up-to-date hard copy IRS forms, say manually + via E-file, or with another service( i don't know of any, just a hypothetical) that it still wouldn't be prudent to file asap? My question stems from seeing IRS tax refund date., The IRS won't accept returns until late January; TT doesn't set that date. Personally, I suspect TT will have the software updated as it affects EVERYONE
- In this thread, we discussed that because of child tax credits or Earned income credits, the IRS can't release my refund until mid-Feb anyways. I don't believe one can (or is required to) claim either of these credits with $0 income. if your income is zero, there is no EIC or CTC to be had in any event.
- The IRS is saying one must have Notice 1444 to determine the amount to include on the Recovery Rebate Credit worksheet included in 1040, 1040-SR, which is the form I will be filing. If I already know what the IRS deposited in 2020 for my 1st stimulus, do I need this form? Like to attach it as proof or something? I think we threw ours out. You don't need the form; I suspect most threw it out, not realizing what it was. you just need to know how much stimulus you received each time.
- And lastly, in my head this should be simple. Get 1040 done with Recovery rebate credit worksheet plus add new kid from 2020, and show that I have Zero income. Provide bank info, and under AGI put a Zero. Is there anything I'm missing? no, other than do you really have zero income????? you will have to amend if you do and it could be worth a lot in refund because of CTC and qualifying tax credit.
‎January 3, 2021
11:30 AM
