Question

New Tax Credit for 2020

Forum|Forum|5 years ago
March 6, 2021
1 reply
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In a group forum that I belong to, this was posted and the question was brought up about whether or not we will be Able to amend our returns for 2020 due to the change in the tax credit. If I am understanding the literature correctly, all of the taxable funds that we received last year are no longer considered taxable. Any insight is greatly appreciated, thank you

Not A Product Question

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xmasbaby0

Employee

The law has not changed yet, so you cannot do anything except speculate at this point. The Senate is debating changes to the stimulus bill that so far has only passed in the House of Representatives. There are a number of proposed changes. No one knows yet what the final changes will be or how or when they will be implemented.

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