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jndd
New Member

Is TurboTax going to be updated to handle the second stimulus payment because as of right now it only handles the initial one?

 
3 Replies
NCperson
Level 15

Is TurboTax going to be updated to handle the second stimulus payment because as of right now it only handles the initial one?

the IRS has yet to publish what those changes are, but they are going to have to before they accept submissions because that is the way the law is written.  I suspect Line 30 and the related interview will require re-tooling once the IRS communicates those changes.  What hasn't been well advertised is that the IRS is only permitted to send out the 2nd stimulus payments through January 15 (yes, two weeks!) - after that anyone who hasn't received either the 1st or the 2nd stimulus will have to get it on their 2020 tax return. 

Opus 17
Level 15

Is TurboTax going to be updated to handle the second stimulus payment because as of right now it only handles the initial one?

TurboTax will eventually be updated to include any forms and instructions specified by the IRS, but you should expect it will take at least 2 weeks after the IRS makes the changes before they are included in the program, since the IRS also has to review and approve the changes in the program before it is allowed to be released.  (Ideally, the program will not allow any eligible person to file until it is updated, to prevent people having to amend, but this would probably confuse and anger a lot of customers too.  What a mess.)

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

Is TurboTax going to be updated to handle the second stimulus payment because as of right now it only handles the initial one?

<<Ideally, the program will not allow any eligible person to file until it is updated, to prevent people having to amend, but this would probably confuse and anger a lot of customers too.  What a mess>>

 

this is why 'patience' and not rushing to file this tax year will be a virtue! Agree, what a mess!

 

ps - wait until it becomes generally known that the 2nd stimulus payments will STOP going out on January 15th - after that, the only way to claim the 2nd stimulus (and the first one for that matter is through the 2020 tax return. 

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