After you file

OK everyone ... let's back things up a bit.   The rules changed and the way the IRS was to handle them were in flux until they decided how to handle this situation.    The email alert that TT sent out did NOT tell you to amend but suggested you MAY need to amend if you had OTHER things to correct ... the RRC was not one of them.  Sadly many amended when they should not have done so and in a normal year this would not be an issue. 

 

Then in May it was decided that there would be monthly advance CTC payments to be sent out  and no one (even the IRS) knew or posted the info that if you have ANY return in the IRS processing system that the advance payments would be halted.  So don't blame TT if you filed a return you did not need to file or for not telling you of the unforeseen consequences that could possibly happen.   

 

Now the amended return will take 6 months or more to process AFTER the original return has been fully processed which means you may never get any of the ADVANCE CTC payments so you will have to wait until you file the 2021 return next year for the credit on the return.  Sadly there is nothing you, TT or the IRS can do to fix this or speed up the process.  Blame congress for messing up this entire situation so badly.