IRS provides revised answer for 2020 Recovery Rebate Credit on tracing 02.02.22
Channel: Accounting Instruction, Help, & How To
Date: 03/02/2022

IRS provides revised answer for 2020 Recovery Rebate Credit on tracing
https://www.irs.gov/newsroom/irs-provides-revised-answer-for-2020-recovery-rebate-credit-on-tracing-payments
https://accountinginstruction.info/
The Internal Revenue Service today updated its frequently asked questions (FAQs) on 2020 Recovery Rebate Credit (FS-2022-08 PDF).

This updated FAQ includes a revision to the information on tracing payments under Topic F: Finding the First and Second Economic Impact Payment Amounts to Calculate the 2020 Recovery Rebate Credit:

Question 8, Topic F: updated
These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

More information about reliance is available.

More information on the Recovery Rebate Credit is available on IRS.gov.

IRS-FAQ