Will the stimulus package that just passed in the Senate change the child tax credit for my 2020 taxes? Is it increasing from $2000 to $3000?

[vladsurg]

I wonder if there is a benefit in waiting to file my 2020 return.

[SweetieJean]

This package has not yet passed the House, nor been signed into law, so we don't know.  And we don't know how long it will take to implement procedures after that.  Stay tuned.

[MaryK4]

No, the new law for Child Tax Credit will not go into effect until this year.  You do not have to wait to file for the Child Tax Credit.

For 2021 it will increase it to as much as $3,000 per child ($3,600 for ages 5 and under). It would also raise the age limit for qualifying children to 17, from 16.