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Recovery Rebate If your taxpayer client received a lower Economic Impact Payment (EIP) amount or did not receive the payment at all, they may be eligible to claim the Recovery Rebate Credit on their 2020 tax return. Refundable Credits Lookback Rule... The recent COVID Tax Relief bill includes a refundable credits lookback rule which can help low-income taxpayers increase their 2020 EITC or CTC, using their earned income from the tax year 2019 to determine the Earned Income Tax Credit and the refundable portion of the Child Tax Credit, in the 2020 tax year.

IR-2021-16, January 15, 2021 WASHINGTON The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The February 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the December 27 tax law changes that provided a second round of Economic Impact Payments and other benef...Continue reading

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Where’s My Refund? will be updated February 22 for most early filers who claimed the EITC or ACTC. These taxpayers will not see a refund date on Where’s My Refund? or through their software packages until then.

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