Should I amend my taxes if I had a baby in 2021, so I can receive the child tax credit for 2020?

[VolvoGirl]

No you can't amend 2020 to add a child born in 2021.

[xmasbaby0 · Accepted solution]

No.   You cannot add a child who was born in 2021 to a 2020 tax return.    You will claim your child as a dependent on your 2021 tax return next year.   That CTC increase is not for 2020 anyway.   It is for 2021.    If you are hoping to get the payments that will start in July for your child, there will be more information coming soon from the IRS about how to do that.  The IRS will put up some sort of portal that you can use---it will not be done by doing anything involving your 2020 tax return.

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...

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

[levan_card]

Thank you!! That's exactly what I was looking into. How to get the payments that are starting in July. I appreciate your detailed response, it was very helpful and informative! 

[macuser_22]

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@levan_card wrote:

 How to get the payments that are starting in July.

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See the IRS link in the answer above for the answer to that.