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devonsim7
New Member

Will I get the additional child tax credit if I've already received my tax return?

 
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2 Replies

Will I get the additional child tax credit if I've already received my tax return?

The new (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 is not be part of your 2020 tax refund.

 

Starting in tax year 2021, the Plan increases the Child Tax Credit from $2,000 to:

  • $3,600 for each child under 6
  • $3,000 for each child age 6–17

It also makes the credit fully refundable, meaning you’ll be eligible to get it even if you don’t owe taxes.

Starting in July 2021, payments for the Credit will be sent in advance so you won’t have to wait to file your 2021 taxes to receive that amount.  You don’t have to do anything to get these payments. The IRS will likely determine eligibility based on your most recent tax filing.

 

 

AmyC
Employee Tax Expert

Will I get the additional child tax credit if I've already received my tax return?

The law passed yesterday  applies to the child tax credit for the year we are in, not last year for which your return was filed. You may see monthly payments starting in July.

 

See:

Stimulus Impact

NY Times FAQ

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