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I have already filed and received the child tax credit (2000) per child. Will I receive the difference of 1600/1000 for my children now that the child tax has increased?

 
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2 Replies

I have already filed and received the child tax credit (2000) per child. Will I receive the difference of 1600/1000 for my children now that the child tax has increased?

Increase in child tax credit is for 2021 tax year. 

Hal_Al
Level 15

I have already filed and received the child tax credit (2000) per child. Will I receive the difference of 1600/1000 for my children now that the child tax has increased?

The new (expanded) Child tax credit ($3000; $3600 for kids under 6) is effective for 2021. There is a provision for advanced monthly payments  being made in 2021. The payments will come from the IRS, similar to the stimulus payments. The details of how and when are yet to be worked out, but  starting in July has been mentioned.

 

Getting the expanded child tax credit has nothing to do with filing your 2020 tax return. Whether you already filed, file now or file later, the additional money will not be part of your 2020 tax refund.

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