topic Will I have to amend my return if the IRS already accepted it to receive the new child tax credit or will they send it with my stimulus in After you file

Will I have to amend my return if the IRS already accepted it to receive the new child tax credit or will they send it with my stimulus

stasiad93 — Wed, 10 Mar 2021 19:58:25 GMT

Re: Will I have to amend my return if the IRS already accepted it to receive the new child tax credit or will they send it with my stimulus

SweetieJean — Wed, 10 Mar 2021 20:08:23 GMT

We don't know yet, since the bill has not yet been enacted into law, and might not be effective until 2021 returns (filed in 2022).

Re: Will I have to amend my return if the IRS already accepted it to receive the new child tax cr...

gloriah5200 — Wed, 10 Mar 2021 20:14:40 GMT

Regarding the American Rescue Plan-

“This has not yet become law.”

https://blog.turbotax.intuit.com/tax-news/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check-49041/

If it becomes law, after signed by the President, then the IRS will have to go into the IRC to make changes and then update their systems and then put the information out to software developers, who will in turn have to make changes to their software which may require IRS approval.

We will have to wait and see what happens to determine what, if any, new course of action should be taken by taxpayers.