Skip to main content
February 1, 2021
Question

It is allowing me to use last years income credit ! That isn’t anything that would get me in trouble I didn’t make as much this year so curious ?

  • February 1, 2021
  • 1 reply
  • 0 views
No text available

1 reply

VolvoGirl
Employee
February 1, 2021

The lookback rule is part of the Coronavirus tax relief package.

 

The special lookback rule will allow lower income individuals to use their earned income from 2019 to determine their Earned Income Tax Credit and the refundable portion of the Child Tax Credit in 2020, since their lower 2020 income could reduce the amount they are eligible for.