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After you file
This bullet point worries me deeply ... this will make a mess of the 2020 filing so NO ONE who qualifies for these credits really should NOT file early this year especially since returns with this credit will not start processing until mid February at the earliest ...
How does the new law effect my Earned Income Tax Credit?
There is a special temporary rule allowing individuals to use their earned income from tax year 2019 to determine their eligibility and amount of Earned Income Tax Credit and the refundable portion of the Child Tax Credit (i.e., the Additional Child Tax Credit) in the 2020 tax year. TurboTax will help you to do this when you file your 2020 tax return this year.
‎December 28, 2020
5:59 AM