@RMH2893
First, I would wait until closer to April 15 and see what the IRS announces. Assuming that the IRS is going to revise the 2020 tax forms, I would then continue to wait until those revised forms are available in TurboTax so that you can file one original correct tax return. If that ends up being after April 15, you will need to make at least a partial payment to the IRS before April 15, and you will need to file form 4868 to get an extension. You can make a payment at www.irs.gov/payments. You should pay enough that when you file your tax return you owe less than $1000 more. If you overpay, you will get the difference back as a tax refund.
I expect that the IRS will tell taxpayers who have already filed their returns that they need to file amended returns. If you file now using the original 2020 forms, you would have to pay the full $2500. When you file your amended return, your tax would go down and you would claim a refund of the overpayment, but it will probably take at least six months to pay. That is why I would suggest waiting so that you can file one correct return instead of having to file an amended return later.
Of course, if the IRS announces some unexpected and different procedure, it be beneficial to have waited until we know what that new procedure is.
