As customers continue to have questions regarding the Economic Impact Payments (EIP), 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! 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.
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.
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