topic I filed my taxes early this year but now I’m hearing that I should have waited since the child tax credit was increased. Is it worth amending? Or even possible? in After you file

I filed my taxes early this year but now I’m hearing that I should have waited since the child tax credit was increased. Is it worth amending? Or even possible?

gregoryljackson — Sun, 21 Mar 2021 10:07:16 GMT

Re: I filed my taxes early this year but now I’m hearing that I should have waited since the child tax credit was increased. Is it worth amending? Or even possible?

xmasbaby0 — Sun, 21 Mar 2021 11:45:03 GMT

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#U1393859

Re: I filed my taxes early this year but now I’m hearing that I should have waited since the child tax credit was increased. Is it worth amending? Or even possible?

gregoryljackson — Sun, 21 Mar 2021 16:41:58 GMT

Thank you for that!