Yes, you are correct, our customers continue to have questions regarding the Economic Impact Payments (EIP), and we’re continuing to work with the IRS for guidance. We’re updating our customer and expert-facing articles with information as soon as we get it. Please see the following link about late payments: What if my IRS refund is taking longer than 21 days?
Here is an FAQ with updated links and information: Review the new FAQs in the article, How will the third stimulus impact me?
Here is a TurboTax article about the American Rescue Plan
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 unemployment benefit 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, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.
@Norma1953
For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return.
TurboTax is developing the software required to process all of the new conditions.
