@SweetieJean Question for TT. Based on IRS' latest statement, if one previously filed and will now still have to file an amended return, what is TT recommending about filing an amended return? Wait until after IRS has done the recalculation? If so, how will the TT software for amending the return work off of recalculated values not on the TT stored return? Or should folks just go ahead and amend it all now in TT before IRS recalculates?
"There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.
For example, the IRS can adjust returns for those taxpayers who claimed the Earned Income Tax Credit (EITC) and, because the exclusion changed the income level, may now be eligible for an increase in the EITC amount which may result in a larger refund. However, taxpayers would have to file an amended return if they did not originally claim the EITC or other credits but now are eligible because the exclusion changed their income."
