The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information about a new round of economic impact payments, including the third stimulus will be forthcoming.
The IRS strongly urges taxpayers not to file amended returns related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return. TurboTax is developing and will develop the software required to process all of the new conditions as information becomes available.
We’ve been addressing more frequently asked customer questions. Review the new FAQs in the article, How will the third stimulus impact me?
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