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I have been waiting to file until the child tax credit bill was passed. When will the $2000 credit be updated to 3000 in turbotax, so that we can complete our filing?

 
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2 Replies

I have been waiting to file until the child tax credit bill was passed. When will the $2000 credit be updated to 3000 in turbotax, so that we can complete our filing?

The enhanced child tax credit has not been passed or signed into law.   It is currently in the Senate.  The Senate has not voted yet.   No one knows yet if it will pass or what the amounts will be when they get done with it----or even IF it will pass.   So.....as my Grandma used to say, don't count your chickens before they hatch.   We have no idea how the credit will be implemented if it passes or when they will make it effective.    And....when a credit like that changes  it will entail all kinds of changes that the IRS has to make to the tax forms and software programming----likely months.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
TomK2023
Expert Alumni

I have been waiting to file until the child tax credit bill was passed. When will the $2000 credit be updated to 3000 in turbotax, so that we can complete our filing?

By law, filers claiming the child tax credit or earned income tax credit won’t receive refunds until Feb. 27 at the earliest, according to the IRS.

 

But as xmasbaby0 said, it has not become law yet.  I wouldn't postpone filing your tax return in hopes that it will get done soon.

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