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The new law was signed less than a week ago. The IRS has not yet issued any revised forms or instructions for it. And TurboTax can't even start to implement it until they get the revised forms and instructions from the IRS. So it will take a while before the option is included in TurboTax. But you can't file your tax return until late January at the earliest, and probably not until early February. And refunds that include EITC can't be paid until the end of February or early March. So there's no need to rush to complete your tax return.
We don’t know. Remember that any returns that claim EIC won’t be processed or paid until after February 15, so you don’t need to be in a hurry to file. TurboTax may open e-filing before then, but your tax return will just go into cold storage.
AND all the DIY programs as well as the professional programs are ALL in the same boat ... until the IRS gets things completed and approves the program changes AND tests them successfully then NO ONE can file a return. One of the changes effects the base form 1040 which EVERYONE uses to file their return and it must be updated first. The 1040 was expected to be ready to efile 1/7 however it is sure to be delayed. In the Federal Review tab you can check for the forms not yet ready in your return and until all of them are ready to efile there is nothing you can do but wait patiently.
It's now March 31 and I logged into TT thinking there might be an update. I have my return ready but now with look-back I want to edit (since I have not yet sent it in). Any updates here?
@scmist wrote:
It's now March 31 and I logged into TT thinking there might be an update. I have my return ready but now with look-back I want to edit (since I have not yet sent it in). Any updates here?
The look back to 2019 AGI is available for the Child Tax Credit and the Earned Income Credit
Enter child tax credit in the Search box located in the upper right of the program screen. Click on Jump to child tax credit
OR -
Enter eic in the Search box located in the upper right of the program screen. Click on Jump to eic
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