Jan 07, 2022

IRS issues new guidance on COVID relief payments and taxes

Posted Jan 07, 2022 2:46 PM

IRS

WASHINGTON — The Internal Revenue Service today updated its frequently asked questions (FAQs) on 2020 Recovery Rebate Credit (FS-2022-02) PDF.

This updated FAQ includes changes to the information for Topic F: Finding the First and Second Economic Impact Payment Amounts to Calculate the 2020 Recovery Rebate Credit:

  1. Question 4, Topic F: updated
  2. Questions 8, 9 & 10, Topic F: added

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

More information about reliance is available.