When will Turbo Tax update to reflect the EITC loo...
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When will Turbo Tax update to reflect the EITC look-back option or can we only get that feature using a private accountant? It is still using my 2020 income instead of 2019 which the new law allows.

 
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Level 15
Level 15

When will Turbo Tax update to reflect the EITC look-back option or can we only get that feature using a private accountant? It is still using my 2020 income instead of 2019 which the new law allows.

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.

 

Level 15

When will Turbo Tax update to reflect the EITC look-back option or can we only get that feature using a private accountant? It is still using my 2020 income instead of 2019 which the new law allows.

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.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
Level 15

When will Turbo Tax update to reflect the EITC look-back option or can we only get that feature using a private accountant? It is still using my 2020 income instead of 2019 which the new law allows.

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.  

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