@Sbrown12123 wrote:
Nice, it shouldn't be too long for TT, as they have known for months that this was a possibility, and especially coming during mid tax season, I'm sure they put their efforts into a smooth update to their software to add that extra exemption.
Patiently waiting and reading this thread.
TurboTax has no idea how the IRS regulators will implement this, A change to the 1040X? an entirely new form? some other method? It is also possible that TurboTax won't need to do anything at all and the IRS could look at 2020 returns and just mail a check.
And you do not program tax software bases on the law , you must program using an IRS provided "schema" so what TurboTax sends to the IRS, the IRS can read and the IRS computer use the same schema.
That can take weeks to months.
**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.**
