topic Re: Help in Get your taxes done using TurboTax

Help

Anonymous — Tue, 05 Jan 2021 08:15:30 GMT

I need help finishing and filing my taxes to be able to receive stimulas it won't let me get past the last section

Re: Help

xmasbaby0 — Tue, 05 Jan 2021 12:58:47 GMT

Slow down. The IRS is not accepting 2020 returns until the end of January.

Please be careful about being in too much of a hurry to file your next tax return. Many tax forms are not available at the very beginning of the tax season, so you have to wait for your forms. The software still needs updates at the beginning of the tax season.

Although the software will allow you to e-file in early January, the IRS does not begin to accept the e-files until almost the end of January. So your return just sits on the server. If you realize that you made a mistake or left something out—as many people do—you cannot change it.

Every year we see people who are in such a rush to file that they file incorrectly and incompletely. If you file too early and leave out a W-2 or a 1099, or forget to enter information, you will end up having to amend your tax return---and that takes months. Employers have until February1. 2021 to issue W-2's----and ALL of your 2020 W-2's have to be on the same tax return. Many of the 1099's and 1098's you need do not arrive until late January or sometime in February. If you are getting Earned Income Credit or Additional Child Tax Credit, the IRS is going to hold your refund until the end of February no matter how early you file. There seems to be a greater chance of "early" returns being reviewed and those refunds are delayed, or early returns are more often subject to identity verification--which will also delay processing. Filing too early may just be a recipe for a delayed refund. It might go more smoothly for you if you wait until at least mid-February to file instead of e-filing during the first minute that you can do it.

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

We know that the IRS is already revising the 2020 Form 1040 because of the 2nd stimulus. That means all tax preparation software programs will also have to be re-programmed and updated. Those changes could take until sometime in late January or even longer—we do not know yet. Do NOT be in a hurry to file your 2020 tax return until more is known. I It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.

Re: Help

Anonymous — Sun, 10 Jan 2021 19:33:48 GMT

Then why haven't my husband or I received our stimulas?

Re: Help

xmasbaby0 — Sun, 10 Jan 2021 19:37:25 GMT

@Anonymous No one here in the user forum knows why you did not receive your stimulus. The stimulus checks come from the IRS--only the IRS controls sending them. If you did not get it then on your 2020 tax return you can go through the recovery rebate credit section to get the stimulus money.

The stimulus check is an advance on a credit you can receive on your 2020 tax return. If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021—if you are eligible.It will end up on line 30 of your 2020 Form 1040.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-2020-tax-return

https://www.irs.gov/coronavirus/coronavirus-tax-relief-and-economic-impact-payments-for-individuals-and-families

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

good post with screen shots for recovery rebate credit

https://ttlc.intuit.com/community/taxes/discussion/filed-as-an-independent-and-single-but-haven-t-received-either-stimulus-checks-will-i-ever-get-any/00/1781494