pamdory
Level 8

Yes, the $1,400 EIPs will be a 2021 issue.

BUT,

The American Rescue Plan Act includes an exclusion of $10,200 of 2020 unemployment benefits.  The expanded child credit could conceivably affect 2021 estimated tax calculation, although this isn't as crucial.  

The act passed in the Senate Saturday, will be voted on in the House today and is expected to pass.  And the President intends to sign it.  

I'm telling my clients with 2020 unemployment income to be patient as they are going to want to wait for this one.  I don't intend to spend all summer doing amended returns after last year.