Do we have to do anything to recieve the difference for the new child tax credit

[c1ndy212009]

Wondering if we have to take any steps because biden passed the new increase for child tax credit

[rjs]

The increase in the child tax credit is for 2021, not 2020. It does not affect your 2020 tax return. You will get the increase on your 2021 tax return that you file next year. You are supposed to be able to get an advance of half the credit starting in July, but the IRS has not yet issued any information about how to get the advance.

[KrisD15]

No, at this time they are working out the details. 

If you already filed, do NOT file an amended return. 

If you have not yet filed, you can file unless you also have unemployment to report in which case we ask you to wait until the software is updated for that change.