Do I need to amend my taxes due to the new Child Tax Credits increase?

keenancabral · ‎March 26, 2021

When I filed my Taxes, the Child Tax Credit was at $2000 per child. I have two children under the age of six. So that qualifies them for the $3600. Instead of the $3000 for children over six years old.

xmasbaby0 · ‎March 26, 2021

That CTC increase is not for 2020; it is for 2021. Your 2020 return does not have to be amended for it. More information will be available soon; the details of how it will be implemented have not yet been clarified fully. There may be monthly payments going out beginning in July 2021, with some of the CTC still left as a refundable credit on your 2021 tax return next year.

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

View solution in original post

xmasbaby0 · ‎March 26, 2021

That CTC increase is not for 2020; it is for 2021. Your 2020 return does not have to be amended for it. More information will be available soon; the details of how it will be implemented have not yet been clarified fully. There may be monthly payments going out beginning in July 2021, with some of the CTC still left as a refundable credit on your 2021 tax return next year.

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**