That is a lot of ifs---and there are even more ifs. We do not know if Congress will pass a bill enhancing the child tax credit, or if the enhancement --if passed--will go into effect for 2023 or not until tax year 2024. We do not know if its final version it will increase the amount from $2000 per child or if it will just change how people receive the CTC and go to a monthly amount like they sent out during the last half of 2021.
And we do not know how long it would take the IRS to make all the changes necessary to implement a CTC change for tax year 2023, and then how long it would take to finalize the forms and software formatting for tax software.
We all remember what a mess it was for tax returns for 2020 when Congress changed the tax law for tax on unemployment after the 2020 tax filing season began in 2021.
IF you want to wait and file later in case the CTC changes, that is up to you. No one here can predict what Congress will do.
**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.**
