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There is not a new Child Tax Credit for tax year 2023. The credit is currently $2,000 with a refundable $1,600 Additional Child Tax Credit.
If you are referring to legislation in Congress, it has not passed or been signed by the President.
If you're asking if Form 8812 form is available in TurboTax, the answer is yes. The maximum you can get for the Child Tax Credit is $2,000 for each qualifying child. For additional information, review the TurboTax article 2023 and 2024 Child Tax Credit .
ENHANCED CHILD TAX CREDIT BILL
No one here knows if or when the proposed enhanced child tax credit bill will pass. It is presently in the hands of 535 state representatives and senators.in Congress. All that has happened so far is that the House Ways and Means Committee passed it on to Congress for consideration. It has not been passed or signed into law. IF and when it passes, we do not know when they will make it effective or how it will be implemented. They are still wrangling with it so we do not know what it will look like when they are done.
It is unlikely to affect your 2023 return; maybe enough members of Congress remember what a mess they created when they changed the tax law for taxing unemployment during the 2020 tax filing season in 2021 and will not want to do that to the U.S. public again in mid tax season. Or maybe they will go ahead anyhow. We do not know. But if it affects you for 2023 they will have to provide a way for you to get the credit.
And....just to add, it is completely unrealistic to expect that the IRS and tax software could be changed within a day or two after a tax bill passes in Congress. It takes much longer for the changes to be effected with the IRS and with tax software.
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