topic Will the new child tax credit and $10,200 unemployment forgiveness automatically be applied to your tax return if you have already filed? in After you file

Will the new child tax credit and $10,200 unemployment forgiveness automatically be applied to your tax return if you have already filed?

naliahe — Thu, 11 Mar 2021 04:16:10 GMT

$3600 tax credit that was just passed

Re: Will the new child tax credit and $10,200 unemployment forgiveness automatically be applied to your tax return if you have already filed?

macuser_22 — Thu, 11 Mar 2021 04:27:51 GMT

No.

The new law must first be turned into tax regulations by the IRS and then the IRS must issue the new regulations and tax forms to report it. Then the tax software company's use that to create the software to report it.

That procedure can take several weeks to several months.

Re: Will the new child tax credit and $10,200 unemployment forgiveness automatically be applied t...

KrisD15 — Thu, 11 Mar 2021 04:29:51 GMT

The bill needs to be signed into law which may happen Friday.

The IRS will then make an announcement as to how they will be handling that.