Extended Filing Deadline - May 17   |   Third Stimulus Payment   |   Why eFile?

Covid Relief, 2019 or 2020 Earned Income?

Covid Relief and your 2019 or 2020 Earned Income? What's best for you?
Article, Solution:

Covid Relief Page for Tax Year 2020

Attention: If your earned income ( W-2 income wages and/or net earnings from self-employment plus certain disability payments etc.) was higher in tax year 2019 than in tax year 2020, you can use the 2019 amount to calculate your EITC and/or Additional Child Tax Credit for 2020. 

This temporary relief is provided through Tax Relief Act of 2020. After you signed in to your 2020 tax return on eFile.com click on Federal Taxes -> Review. Then click on the link I' like to see the forms I've filled out or search for a form. Then enter Covid Relief in the search box and click on Add form next to Covid Relief. When you are in the tax app, don't rush this. Enter your 2019 Earned Income and see the results and then enter your 2020 Earned Income and compare. It's very difficult to predict which tax year Earned Income will be beneficial for you. Contact us if you have questions.

image description

Below is the Covid-Relief entry screen

image description