@Craig-o wrote:
I have been very impressed with IRS automation improvements over the recent years. I'm going with being optimistic and I think that since the IRS has all the data they need for people that filed 2020 already, they will apply the new legislation and send rebate checks accordingly.
Something else not mentioned here is since 2020 AGI is affected by this change, anyone that had Obamacare in 2020 will also have their Premium Tax Credit affected (in a good way). The rebate from this could be even more that the tax break.
Yea - it only took the IRS 9 months to release the qualified COVID related retirement distribution rules and forms.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
