You'll need to sign in or create an account to connect with an expert.
That CTC increase is not for 2020; it is for 2021. Your 2020 return does not have to be amended for it. More information will be available soon; the details of how it will be implemented have not yet been clarified fully. There will be monthly payments going out beginning in July 2021, with some of the CTC still left as a refundable credit on your 2021 tax return next year.
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
if the child is a newborn in 2021, you'll have to register the child to get the advance payments. the IRS has not yet opened a portal to do so but check their webpage for further info.
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
nimmesis
New Member
ambass1977
New Member
xxrubyxxmacxx
New Member
kelly34jane-
New Member
kristopherkkeene
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.