Question

When is turbo tax updating it's software to reflect changes in american rescue package?

Forum|Forum|5 years ago
March 12, 2021
1 reply
0 views

the package has made me eligible for the child tax credit and it's still not reflecting in the site

TurboTax Premier Online

The rules for the 2020 Child Tax Credit have not changed. The new tax law with respect to the Child Tax Credit is for tax years beginning after 31 December 2020.

SEC. 9611. CHILD TAX CREDIT IMPROVEMENTS FOR 2021.

(a) In General.—Section 24 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

“(i) Special Rules For 2021.—In the case of any taxable year beginning after December 31, 2020, and before January 1, 2022—

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B

bandit1203Author

I get that. but how will they know to advance me the child credit now they I'm eligible due to the package, if turbo tax keeps saying I'm not eligible by the suspended rule, old rule. ???

P

PattiF

Everything will be updated to reflect the new rules in the American Rescue Plan. The IRS is finalizing the changes and TurboTax will implement everything as soon as possible. The process will take a little time.

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