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Ashley8494
Level 2

If Bidens plan passes with the child tax credit increase will that reflect this year when I file my taxes?

If Bidens plan passes with the child tax credit increase will that reflect this year when I file my taxes
2 Replies
DoninGA
Level 15

If Bidens plan passes with the child tax credit increase will that reflect this year when I file my taxes?

No.  If that is ever passed by Congress and signed by the President it will not affect tax year 2020 returns.  Unless they plan to screw up everyone's 2020 filed tax returns and make it retroactive to tax year 2020.

Critter-3
Level 15

If Bidens plan passes with the child tax credit increase will that reflect this year when I file my taxes?

HIGHLY unlikely it will be retroactive to the 2020 returns  but unprecedented things are happening daily.  Watch the news for the final tax reforms and don't hang your hat on the talking heads.  

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