@davis6987
The "new" higher child tax credit (3000/3600) will not be effective until you file your 2021 tax return next spring.
SO there is nothing extra to wait for in the current filing year. The previous CTC amounts are still in effect for the tax returns you are filing now for your 2020 income.
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Of course, if you didn't file for 2019 taxes, and you didn't get the 3rd stimulus yet, you do need to file 2020 ASAP so that the IRS knows where to send that 3rd stimulus.......assuming they are still sending that out. The 3rd stimulus isn't on the current tax file either.....but is expected to be automatic.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
