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There is no new tax credit. There is a proposed law but it has not been signed yet. Furthermore, the proposed law indicates that the government should make payments directly to parents during the year rather than waiting for a large tax refund at the end of the year. You will just have to wait until the law is passed and the treasury department figures out what to do, along with the rest of us.
What has been proposed will NOT be retroactive to the 2020 return ... it is for 2021.
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