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February 11, 2021
Question

Look back rule filing?

  • February 11, 2021
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The "lookback" rule allows taxpayers to use either their 2019 or 2020 income, whichever is most beneficial, in order to get the most out of the Earned Income Tax Credit and the C

1 reply

Employee
February 11, 2021

For the earned income credit and additional child credit, if you had earned income which was less in 2020 than in 2019, then you can choose which income to use. If your 2020 earnings were higher than in 2019, you must use your 2020 income.